BMW sees record first quarter on strong demand
BMW has announced a record first quarter with strong growth across its entire model range.
The German group said the main reasons for the performance were strong global demand for its products, which include Mini and Rolls-Royce, the strength of its brands and improvements in efficiency.
“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, the BMW chairman.
The news is encouragement for the firm’s engine plant at Hams Hall, which hit an all-new production record in 2011, manufacturing more than 430,000 engines.
First-quarter group revenues rose by 14.1% to £14,86m (€18,293m – Q1 2011: €16,037m). EBIT rose by 18.8% to £1,732m (€2,132m – Q1 2011: €1,795m), while profit before tax (EBT) climbed by 21.8% to £1,686m (€2,076m – Q1 2011: €1,705m).
The number of vehicles sold by the BMW Group in Q1 rose by 11.2% to 425,528 units (Q1 2011: 382,758 units), with the BMW, Mini and Rolls-Royce brands all recording new sales volume highs.
The BMW brand recorded worldwide growth of 11% in the first quarter with sales of 356,548 units (Q1 2011: 321,175 units). Sharp growth was recorded for the new BMW 1 Series, sales of which increased by 20.2% to 54,160 units (Q1 2011: 45,075 units).
The new BMW 3 Series, which has been on the market since February, also got off to a strong start with Q1 sales up by 13.6%.
Sales of the new BMW 6 Series jumped to 4,651 units (Q1 2011: 789 units). The BMW 6 Series Gran Coupé – the first four-door Coupé in the brand’s history, which was unveiled at the Geneva Motor Show in March – goes on sale next month and is expected to provide further impetus. Sales of the BMW 7 were 17,786 (Q1 2011: 14,817), an increase of 20% on the same quarter last year.
BMW said sales of its X Series also continued to perform well, while the Mini brand also achieved a new sales volume record, with sales up in the first quarter by 12.1% to 68,210 units (Q1 2011: 60,860 units).
The launch of new models boosted the overall sales performance; while for Rolls-Royce, the brand registered its best first-quarter sales performance ever with 770 units sold (Q1 2011: 723 units), a rise of 6.5%.
