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BMW Posts Record Sales, Revenue and Earnings
BMW AG’s net profit climbed 31% to a record €2.1 billion ($2.3 billion) in January-March. Group revenue grew 12% to a record €23.4 billion ($25.6 billion).
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BMW AG’s net profit climbed 31% to a record €2.1 billion ($2.3 billion) in January-March. Group revenue grew 12% to a record €23.4 billion ($25.6 billion).
The company’s automotive operations saw quarterly revenue climb 10% to €20.7 billion ($22.5 billion), unit sales advance 5% to a record 587,200 vehicles and net profit rise to €1.6 billion ($1.7 billion) from €1.2 billion. Earnings before interest and taxes grew 6% to €1.9 billion ($2.0 billion).
Quarterly group car sales grew 4% to 268,000 units in Europe and 9% to 200,100 vehicles in Asia. Deliveries in the America advanced 2% to 102,200 units, including a 1% gain to 82,200 units in the U.S.
The carmaker notes that its sales of electric and hybrid models doubled to nearly 20,000 units in the first quarter. BMW expects to deliver more than 100,000 electrified vehicles in 2017.
The company reiterates its full-year targets of modest gains that will set new records for car sales and pretax profits.
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