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BMW Sales, Net Profit Set Records
BMW AG’s passenger vehicle sales in the first quarter rose 6% to a record 557,600 units. Revenue was flat at €20.9 billion ($24.1 billion), but net profit grew 8% to a record €1.6 billion ($1.9 billion).
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BMW AG’s passenger vehicle sales in the first quarter rose 6% to a record 557,600 units. Revenue was flat at €20.9 billion ($24.1 billion), but net profit grew 8% to a record €1.6 billion ($1.9 billion).
The high cost of developing new technologies caused the group’s first-quarter earnings before interest and taxes to decline 3% to €2.5 billion ($2.8 billion).
EBIT for BMW’s automotive operations dipped 2% to €1.8 billion ($2 billion). Results for the company’s financial services rose 7% to €591 million ($682 million). Motorcycle operations plunged 18% to €94 million ($109 million).
BMW affirms its previous full-year guidance, which predicts slight increases in last year’s record sales and pretax profits.
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