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Posts Tagged ‘bmw earnings’

BMW Profitability Hits a Bump

Strong car sales offset by miserable motorcycle results.

by on May.07, 2018

BMW CEO Harald Krueger said the company's recent financial results were impacted negatively by poor motorcycle sales.

The BMW Group’s profits dropped slightly during the first quarter as the company’s motorcycle business took a beating during the first three months of the year offsetting a solid gain by the company’s automotive business.

Harald Krueger, chairman of the Board of Management of BMW AG, said the group is “confident” it can reach projected targets for the current financial year since the international automobile markets will continue their generally upward trend.

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However, the favorable factors are offset by extremely high levels of upfront expenditure for new technologies, fierce competition and rising personnel expenses. The global political and economic environment is expected to remain volatile. (more…)

BMW Earnings Accelerate – But Maker Warns China Could Put on the Brakes

by on Nov.03, 2015

On track: BMW expects models like the new 7-Series to continue boosting its sales.

BMW delivered a 20% surge in third-quarter earnings, but the maker cautioned that a slowdown in the Chinese market could put the brakes on its bottom line in the months ahead.

The Bavarian maker has enjoyed a global surge in demand for its luxury products – while also benefiting from the addition of a number of new models, analyst said.  Demand has benefitted from both the U.S. automotive rebound as well as growing sales in China, which is generally expected to become the world’s largest luxury car market. But how soon is now uncertain.

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“We continue to chart a course of profitable growth, with reported figures continuing their upward trend in the first nine months of the year”, said BMW Chairman Harald Krüger, in a prepared statement


BMW Rides US, European Sales to Strong First Quarter

German maker says it will be top luxury dog again in 2015.

by on May.06, 2015

BMW's X5 utility vehicle helped the brand to a 12.6% sales increase in the U.S. in the first quarter.

Like many automakers in the U.S., BMW enjoyed strong SUV sales in the first quarter and rode them to 12.6% sales increase here and to a 4% jump in global net profits, the automaker said.

The German carmaker said its revenue for the quarter jumped 14.7% to $23.6 billion, or 20.9 billion euros. Its net profits rose to $1.7 billion, or 1.52 billion euros, during the period.

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BMW not only generated profit, but its EBIT margin in the Automotive segment was 9.5%, which at the top end of its forecasted range of between 8 and (more…)

BMW’s 3Q Profit Slides 1.2 Percent

Vehicle sales strong, other factors cause slippage.

by on Nov.04, 2014

BMW's 2014 X5 continues to set the pace for luxury SUVs and brought in big profits to the maker in the third quarter.

BMW AG’s profits fell slightly in the in the third quarter despite strong sales of its vehicles, particularly its X5 sport-utility vehicle made in South Carolina. The company sold 509,669 cars worldwide, an increase of 5.8%.

The Bavarian automaker’s net profit dropped 1.2% in the quarter due to non-cash losses on foreign currency hedges and the reduced value of a stake in a key supplier. The company is saying it expects to be more profitable this year than it was last year.

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Net profit of 1.31 billion euros ($1.64 billion) for the third quarter ending Sept. 30 fell short of analyst expectations for 1.36 billion euros, reported by the Associated Press. (more…)

BMW Earnings Beat Forecast

Maker anticipates big jump in sales and earnings for full year.

by on Aug.05, 2014

BMW is counting on a wave of new products, such as this M4 Convertible, to help bolster sales and earnings for the rest of 2014.

BMW’s net earnings jumped more than 27% during the second quarter, and the German maker confirmed its earlier forecast of a big jump in sales and profits for all of 2014.

The largest of the luxury car manufacturers, BMW earned 1.77 billion Euros for the April-June period, or $2.38 billion, up from 1.39 billion Euros a year ago. The automaker sold 5.3% more vehicles through its BMW, Rolls-Royce and Mini brands, a total of 533,187 cars and crossovers.

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But revenues didn’t quite keep pace, climbing a more modest 1.8%, to 19.9 billion Euros. The strong Euro didn’t help. And BMW has been ramping up spending in a market that is demanding more high-tech features, and solutions to demands for better fuel economy and lower emissions, it said. (more…)

China, Europe Lead BMW to Q1 Profitability

Maker seeks to remain atop the luxury vehicle hill.

by on May.06, 2014

BMW said its X family, including the X3, helped the Bavarian maker to a sales increase in the first quarter of this year.

BMW turned strong sales in China and a nice rebound in Europe into an 8.4% increase in profit before taxes in the first quarter of the year. The news is even better when going straight to the bottom line as the group’s net profit was up 11.4% on a year-over-year basis.

First-quarter sales in Europe rose 3.4% to 214,210 units from last year’s 207,243 units. Asia sales were up 21.8% to 158,582 units with China leading the charge with a 25.4% increase in deliveries to 108,143 units.

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Earnings rose to 1.46 billion euros ($2.03 billion) from 1.31 billion euros in the same quarter a year earlier. The figure was higher than the 1.35 billion euros consensus expectation among analysts surveyed by financial information provider FactSet, according to Reuters. (more…)

BMW Earnings Up 14% Despite European Slump

But CEO warns of “headwinds” ahead.

by on Nov.07, 2012

BMW CEO Reithofer sees growing trouble ahead as the European market continues to struggle.

Despite the weakening European economy, BMW AG posted another strong quarter, with earnings up 14% but expected to slow in the months ahead.

The world’s largest premium automaker said its earnings before interest and taxes came to 2 billion Euros, or $2.6 billion, between July and September, led by growth in the U.S. and China as well as by the strong performance of its lending subsidiary. That was well ahead of the 1.74 billion Euros consensus from industry analysts. Net income was up 16%, to 1.29 billion Euros.

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Nonetheless, Chief Executive Norbert Reithofer warned that conditions were weakening across its home markets in Europe and could offset gains in other markets.

“Like the rest of the sector, we are now beginning to feel some headwind,” he said in a statement. “We have to acknowledge that we are all facing dramatic challenges and uncertainties in the global economy today.”


BMW Hits Record for Q1; Porsche

Makers sidestep crisis in Europe.

by on May.04, 2012

New products, like the M6 and 6-Series Grand Coupe, shown here at their Geneva debut, are driving record sales and earnings.

Despite the worsening economic crisis in Europe there was good news for two of the Continent’s most exclusive automotive manufacturers – BMW, in particular posting all-time record earnings for the first quarter.

Porsche, meanwhile, saw its own operating profit for the January to March quarter surge “only” 18% — that driven by strong demand for the Cayenne SUV despite near-record fuel prices in the key U.S. market and other parts of the world.

It was difficult to find anything that didn’t work out well for BMW during the first quarter – after the maker captured the luxury sales crown both in the U.S. and on the worldwide market in 2011. The first-quarter net profit was up 18% compared to year-earlier figures, to 1.34 billion euros, while pre-tax earnings were up 22%, to 2.08 billion euros.  The maker’s EBIT, or Earnings Before Interest and Taxes, rose 19%, to 2.13 billion. And revenues jumped 14%, to 18.29 billion euros.

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“We have recorded the best first-quarter figures ever — for sales volume, revenues and earnings — in the BMW Group’s corporate history,” said Norbert Reithofer, chairman of BMW’s management board, in a statement from the maker’s Munich headquarters.


BMW Sees Big Year Ahead

But there are big risks ahead.

by on Mar.14, 2012

One of many new models: the 6-Series Grand Coupe is BMW's first-ever 4-door coupe.

The BMW Group is looking beyond the threat of a steep recession in Europe and is predicting another record year in 2012.

Global growth, from the recovering U.S. market to the boom in luxury demand in emerging markets like China, Russia and Brazil should play a big role in the year ahead, according to the Bavarian maker’s chief executive.  Significantly, BMW ended 2011 as the number one luxury maker in the still-critical American market, the first time it has ever beaten all comers, including Mercedes-Benz and Lexus.

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“We are targeting new highs in sales volume and pre-tax earnings for 2012”, stated Norbert Reithofer, Chairman of the Board of Management of BMW AG at the Annual Accounts Press Conference in Munich on Tuesday.


BMW Sets Sales and Profit Records

Maker forecasting even better 2012.

by on Mar.09, 2012

New products, like the M6 and 6-Series Grand Coupe, shown here at their Geneva debut, should yield another good year for BMW, the maker predicts.

A mix of new products and a resurgent luxury market paid off handsomely for the BMW Group last year, the Bavarian maker reporting all-time records for sales, unit volume and earnings.

While there were a few weak points, 2011 marked some significant milestones, company officials noted – BMW notably pushing past rivals Lexus and Mercedes-Benz, for the first time, to become the best-selling luxury brand in the critical U.S. market.

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“The past year has been the best year in the BMW Group’s corporate history, proclaimed Norbert Reithofer, the Chairman of the Board of Management of BMW AG. “We have achieved new sales volume, revenues and earnings highs, and exceeded our targets.”

With additional products, notably including the all-new 3-Series on tap for 2012, the BMW Group forecasts that sales volumes will continue to develop positively in the current year.