1:06 pm, August 4, 2010
BMW Group has recorded a significant jump in earnings, its second quarter results have confirmed.
The manufacturer has reported increases in sales volume, revenue and earnings in the second quarter of 2010 – strong demand for new models and growth in Chinese, American and European markets are the causes.
The Group’s revenue increased by 18.3 per cent to £12.7bn while profits rose from £100.4m in 2009 to an impressive £692.8m so far this year.
The number of vehicles sold from April to June increased too – up 12.5 per cent to 380,412 units.
Chairman Norbert Reithofer said: ‘Sharp sales volume growth on major markets and a high-value model mix are the main reasons for the strong second-quarter performance. We have also used the economic crisis as a source of opportunity and have improved efficiency significantly in all areas of the company.
‘We have made good progress towards achieving our profitability targets for the year. But we have no intention of resting on our laurels.’
Six-month revenues also increased for the Group by 13.5 per cent to £23bn, with the total number of BMW, MINI and Rolls-Royce customer deliveries rising to 696,026 units – a 13.1 per cent increase.
By James Batchelor
