BMW reveals record revenues as British sales leap and X1 excels
Stellar sales of BMW’s new X1 compact SUV together with buoyant business in Britain today helped the luxury German motormaker to cross its second-quarter finishing line with record revenues.
The carmaker delivered more than 605,000 vehicles from its main brands, BMW, Mini and Rolls-Royce, to customers between April and July. This was nearly 6% more than a year earlier.
Demand for the X1 shot up 62% and, in the UK, overall sales rose 11%. That helped BMW’s revenues rise 4.5% to a record €25 billion, while underlying earnings beat forecasts to increase 7.9% to €2.7 billion.
Other top-sellers in the quarter included the 7 series. New models also boosted Mini sales and various government initiatives in Europe helped BMW’s ‘i’ electric cars make up 4% of overall sales in June.
The German firm said total auto sales in the UK were forecast to rise 2.6% to 2.7 million units this year, but warned: “the extent to which the consequences of the Brexit decision result in a market-forecast correction still remains to be seen.”
BMW, which lost its top-of-the-podium position in the world’s luxury-car market to Mercedes in the first half, added it is anticipating record figures for sales and pre-tax profit this year.
