BMW's Second-Quarter Sales Reveal a Deepening East-West Rift as iX3 Pre-Orders Offer a Glimmer
Published on 07/11/2026 at 20:24 | Redaktion boerse-global.de
The BMW share price is clinging to a lifeline just 2.14% above its 52-week trough of €57.06, a level struck only at the end of June. With the Relative Strength Index sitting at 31.1, the stock is deep in oversold territory, yet the selling pressure shows no sign of relenting. At Friday's close of €58.28, the equity has surrendered 39.24% since the start of 2026 and languishes almost 29% below its 200-day moving average of €82.03.
The root cause is plain: China, BMW's single most important growth market, has turned into a gaping wound. Global deliveries fell 4.9% in the second quarter to 590,962 vehicles, but that headline number masks a stark geographic chasm. In China, BMW and Mini together sold just 117,815 units in the April-to-June period, a 30.2% plunge from a year earlier. Over the first half, China volumes dropped 20.4% to 261,773 — a collapse that has more than offset advances elsewhere.
The German automaker is far from alone in its Chinese misery. Mercedes-Benz suffered a 30% decline in the second quarter, while Volkswagen fared even worse with a 36.6% rout. Intensifying competition from domestic manufacturers, combined with a shift in consumer sentiment, has created what industry watchers are calling a "China shock 2.0" for legacy European brands.
Should investors sell immediately? Or is it worth buying BMW?
Across the Atlantic and closer to home, the picture is completely different. European deliveries climbed 5.4% to 260,173 vehicles, with Germany itself posting a 9.4% gain. The United States delivered an even sharper 13% advance to 102,713 units. Battery-electric vehicles are the main driver of that momentum: BMW sold 116,807 BEVs worldwide in the second quarter, up 5.2%, but the European market alone accounted for 81,445 of those — a blistering 38% increase. The Mini brand also contributed, with sales rising 17% to 81,035 vehicles.
Hoping to bridge the East-West divide is the much-anticipated "Neue Klasse" platform. Orders for the new iX3 are closing in on 100,000, and the company plans to start pre-sales of a long-wheelbase version at the Chengdu Auto Show in August 2026. The model boasts a range of over 900 kilometres under China's CLTC cycle, with real-world tests reportedly achieving more than 800 kilometres — numbers BMW believes can win back skeptical Chinese buyers.
Yet those operational bright spots have done little to lift the stock. Even as Western EV sales surge, the shares have tumbled 31.5% over the past twelve months and remain a full 40.47% below the 52-week high of €97.90 set in December 2025. The market capitalisation stands at €35.38 billion, historically low relative to the group's underlying asset base. Additional sector-wide pressure comes from Volkswagen's announced job cuts and potential plant closures, which feed a broader narrative of distress in German automotive manufacturing.
All eyes now turn to Chengdu. Pre-order figures from the iX3 launch will either confirm that BMW can reclaim lost ground in China or underscore the depth of the structural challenge. If the "Neue Klasse" fails to rekindle demand in the world's largest car market, the Western pillars of Europe and the US will have to do all the heavy lifting — and the current trajectory suggests that is not a sustainable fix.
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