BMW earned a record profit in the second quarter of 2011, the highest profit margin of all 3 top luxury car makers.
BMW's second-quarter Ebit climbed 66 percent to 2.86 billion euros
The record sales and profit have been driven by demand of the 5-series and X3, as well as growing sales in China. Deliveries of the 5 series jumped 80 percent this year and the X3 has more than doubled, resulting in an 18% rise in BMW brand's first half deliveries. BMW is currently producing at its production limits.
“The first half of 2011 has been the best six-month period in the BMW Group’s history. We have achieved new sales volume, revenues and earnings records both for the second quarter and the six-month period. Strong demand worldwide for BMW, MINI and Rolls-Royce brand cars, together with efficiency improvements in all areas of the company have contributed greatly to this outstanding performance”, stated Norbert Reithofer, Chairman of the Board of Management of BMW AG on Tuesday in Munich.
In view of strong demand for the new BMW 5, 6 and 7 Series and for its successful X models (the BMW X1, X3, X5 and X6) and thanks to greatly improved cost efficiencies, the BMW Group now expects that its full-year performance will be significantly better than originally forecast. For this reason, the earnings and sales volume forecasts for the full year were raised in mid-July.
Source:
BMW