BMW Reports Rise in First Quarter Sales Revenue

By Karin Sun on 6 May 2014
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BMW CEO Norbert Reithofer announcing the expansion of its Spartanburg plant earlier this year

BMW CEO Norbert Reithofer announcing the expansion of its Spartanburg plant earlier this year

BMW announced financial results for the first quarter of 2014.

The company’s total sales revenue was €18.235 billion ($25.409 billion), a year-over-year increase of 3.9% from €17.546 billion in the first quarter of 2013. Operating profit for the company was €1.462 billion, an increase of 11.4% from €1.312 billion last year.

Total worldwide deliveries increased by 8.7% year-over-year to 487,024 units sold in the first quarter. Deliveries of BMW and Rolls Royce vehicles increased by 12.3% and 39.7% respectively, while deliveries of MINI vehicles decreased by 12.5%. Worldwide deliveries of motorcycles increased by 16.1% in the first quarter.

Sales revenue for the BMW brand rose by 4.1% to €16.559 billion from €15.907 billion in 2013. Revenue for motorcycles climbed by 8.3% to €472 million from 436 million last year, and revenue for BMW’s Financial Services sector increased by 1.2% to €4.89 billion, from €4.83 billion in the first quarter of 2013.

BMW said that the increase in sales was driven by a 25% increase in sales in China as well as a modest recovery of sales in Europe.

The Bavarian automaker said it expects total sales revenue to increase significantly for 2014, and projects an increase in before-tax profit of 8% to 10% for the year.

(Photo: Accura Media Group)