Detroit Bureau on Twitter

Posts Tagged ‘bmw profits’

BMW Rides Strong European, Asian Sales to Q2 Profits

German company's U.S. sales are down double digits.

by on Aug.03, 2016

BMW's $1 billion plant in San Luis Potosi, Mexico, may help reverse the tide of slumping sales in the Americas, which are down 8% in the first six months of 2016.

The BMW Group posted record net income, sales and revenue for the second quarter, while maintaining its impressive margins. The results continued a trend that began with a strong first quarter.

As it recorded its best ever quarterly sales volume and net profit figures between April and June, the company wrapped up negotiations with Intel and Mobileye that reflect the company’s effort “to play a leading role in developing safe and reliable automated driving,” BMW said in a statement that accompanied the second-quarter financial statement.

Subscribe for Free!

“We sold more vehicles in the second quarter than ever before and achieved record earnings. We are growing profitably while simultaneously implementing our strategy step by step,” said Harald Krüger, chairman of the Board of Management of BMW AG. (more…)

BMW Profits Fall as China Auto Sales Soften

Luxury marque hit by weakening market.

by on Aug.04, 2015

BMW's quarterly earnings took a hit as auto sales in China have slowed.

BMW AG, which had enjoyed rapid growth in China in recent years, demonstrated the potential down side of its Chinese partnerships as earnings dropped during the April to June quarter as the Chinese automotive market began to weaken.

“There have been increasing signs of more moderate growth in the Chinese auto market for several months now,” noted Friedrich Eichiner, BMW’s finance chief.

The Leader in Global Automotive News!

“The market is normalizing faster than originally forecast. The second quarter saw increased competition across the industry – while the volatility of the Chinese stock market has also weakened consumer confidence,” he said. (more…)

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.

Subscribe Now!

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…)

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.

In the Know!

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 Fall 8.8% on Weak European Sales, Product Investments

German maker cites cash outlay for new models and 20-year sales low for Q2 drop.

by on Aug.02, 2013

BMW attributed part of its Q2 earnings drop to the cash it spent on the new i3 city car.

Despite a double-digit sales gain in the United States and China, BMW posted a disappointing 8.8% drop in earnings before interest and taxes in the second quarter. Revenue for the quarter was up 1.8%.

The earnings decline is being attributed to the sluggish European economy where cars sales are at a 20-year low and capital outlays to expand factories and produce carbon-fiber parts for its first electric car. BMW’s EBIT fell to 2.07 billion euros from 2.27 billion euros, the company reported.

Your Independent Source!

BMW CEO Norbert Reithofer said the German automaker would continue to invest in new technology in an effort to make the company’s cars cleaner and greener. (more…)

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.

Your Inside Source!

“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.

Your Inside Source!

“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.


BMW Eyes Record Sales, Profits

CEO promises BMW battery cars will maintain brand's "sheer driving pleasure."

by on May.13, 2011

BMW CEO Reithofer promises a year of record sales - and profits.

After a strong first quarter, The BMW Group expects to harvest record profits this year – and it is also targeting an all-time sales record, the Bavarian maker’s CEO said.

“We have ambitious plans for 2011,” said Norbert Reithofer, Chairman of the Board of Management of BMW AG, at the Annual General Meeting held in Munich.

Once content to be a relatively niche player, focusing on a narrow range of high-line products, BMW has been stretching the boundaries of luxury and intends to push even further, expanding not only traditional offerings but a mix of new “green” machines that will culminate in the debut of an all-new sub-brand focused on battery power.

Subscribe for Free!

The expanding line-up should bolster demand, Reithofer said, telling shareholders, “We aim to deliver more vehicles than ever before – well over 1.5 million vehicles.”

The company’s finances have clearly been on the upturn.  And it continues to push for an EBIT – or Earnings Before Interest and Taxes — margin target of more than 8% for the automotive segment. It helps that buyers are willing to give BMW a significant premium for its products.


BMW Profits Surge Nearly Fourfold

Increase largely driven by China.

by on May.04, 2011

BMW is hoping the upcoming launch of its 6-Series line will keep its momentum going.

Driven largely by booming sales in China, BMW saw its first-quarter profits jump nearly fourfold, the maker announced today.

Net earnings of 1.21 billion Euros, or $1.79 billion, compared favorably to the 324 million profit the Bavarian maker reported a year ago.  Sales, meanwhile, jumped 29%, to 16.04 billion Euros.

The news followed Tuesday’s report that BMW had scored another big jump in sales in the U.S. market during April, strongly driven by its Mini brand.

Subscribe Now - It's Free!

But the German manufacturer has also become a potent powerhouse in Asia, where volumes soared 53% during the first quarter, with Chinese sales rising a full 72%, well ahead of that booming market’s overall increase.