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BMW Profits Grow 3%
BMW AG reports an operating profit of €2.09 billion ($2.9 billion) in the first quarter compared with €2.04 billion in January-March 2013.
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BMW AG reports an operating profit of €2.09 billion ($2.9 billion) in the first quarter compared with €2.04 billion in January-March 2013. Group net profit was €1.4 billion.
Revenue for the period climbed 4% to €18.2 billion ($25.4 billion), aided by strong demand for the company's X Series crossover vehicles.
BMW's overall deliveries of passenger vehicles in the first quarter jumped 12% to a record 487,000 million units worldwide.
For the full year, BMW aims to surpass a record 2 million unit sales, post "significantly" higher pretax earnings and achieve earnings before interest and taxes of 8%-10% on its automotive operations.
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