Mexican Media Brands
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).
#economics
Share
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.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
What Suppliers Need to Know Right Now
This is a time of reckoning for the auto industry, says Paul Eichenberg. He has some recommendations as to how companies can make their way through it.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.