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BMW’s Quarterly Profit Climbs as Revenue Slips
BMW AG's group sales dropped 2% to €20.21 billion in the fourth quarter of 2013.
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BMW AG's group sales dropped 2% to €20.21 billion in the fourth quarter of 2013. But pretax earnings grew 7% to €1.9 billion, and net profit climbed 9% to €1.3 billion.
Unit sales in October-December expanded 4% to 527,600 vehicles worldwide.
For the full year, group revenue slipped 1% to €76.1 billion. Pretax earnings advanced 1% to a record €7.9 billion, and net profit grew 5% to a record €5.3 billion.
Vehicle deliveries surged more than 6% to a record 1.96 million units in 2013 as the group's BMW, Mini and Rolls-Royce brands all posted record highs.
Demand for BMW brand cars and crossovers grew 8% to 1.66 million units, led by a 23% jump to 500,300 3 Series cars. Other big sellers included the X1 and X3 small crossovers (+9% to 161,400 units and +5% to 157,300 units, respectively).
The group's Mini brand posted record sale of 305,000 units compared with 301,500 in 2012. Rolls-Royce sales grew 2% to 3,630 luxury cars.
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