BMW's US Sales Surge Clashes with Index Exclusion as Stock Trades at 60.66 Euros
Published on 07/05/2026 at 21:52 | Redaktion boerse-global.de
BMW is selling more cars in the United States, but investors are heading for the exit. The Munich-based automaker posted a 13 percent jump in second-quarter US deliveries, yet its stock is stuck near a 52-week low after being ejected from two major indices and battered by deepening troubles in China. The contradictions are stark: the X5 is flying off dealer lots, and index funds are being forced to sell the shares.
The X5 proved the star performer in North America from April through June, with total BMW brand sales reaching 102,713 vehicles — a 13.0 percent gain against the prior-year quarter. Only the Mini subsidiary disappointed, slipping slightly to 7,456 units. For the first half as a whole, BMW’s US tally rose 4.7 percent, and the group (including Mini) managed a more modest 3.9 percent increase, held back by a weaker first quarter.
That momentum, however, is being overshadowed by a structural blow. Both the S&P Europe 350 and the FTSE All-World Index have dropped BMW from their rosters. The removal comes at an awkward moment: the company is in the middle of converting all of its preference shares into ordinary stock on a one-for-one basis, a technical process that concluded on 3 July 2026. Exchange-traded funds tracking those indices now have little choice but to shed their BMW holdings, adding to selling pressure on an already wounded equity.
Should investors sell immediately? Or is it worth buying BMW?
The root cause of the stock’s decline lies 8,000 kilometres away. Demand in China has been weak for months, forcing management to slash its full-year profit guidance in mid-June. The operating margin target for the automotive segment has been cut to just 1 to 3 percent, down from an earlier forecast of as much as 6 percent. That warning sent the share price sliding further, and the index exclusion has only compounded the misery.
At Friday’s close, BMW shares stood at €60.66, leaving the stock down nearly 37 percent since the start of the year — a loss of 36.76 percent in exact terms. The current level is barely €3.60 above the 52-week trough of €57.06 set in late June, a zone that has offered only temporary support so far.
The next weeks will test whether US strength can offset any of the Asian headwinds. BMW has scheduled an analyst call for 10 July to discuss the latest business conditions, followed by the full half-year results on 30 July. Should those presentations fail to reveal a convincing operational turnaround, the combination of forced ETF selling and a fading Chinese market could drive the stock even lower.
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