BMW Group reported a 3.5 percent gain in 2012 thanks to China and US

Article by Christian A., on March 15, 2013

BMW Group posted a 3.5% increase in the 2012 profit as the demand for the new 3-series sedan in China and the U.S. had been so high that it made up for the decline in the European market. In a statement, BMW Group revealed that earnings before interest and taxes increased to 8.3 billion euros ($10.7 billion) from 8.02 billion euros the previous year.

It also revealed that sales rose by 12% to 76.8 billion euros. BMW Group, which produces vehicles with the brands BMW, Mini and Rolls-Royce, is relying on the increasing demand in China and the U.S. to guard itself from the ill effects on the auto market in Europe of the continent’s problems concerning sovereign debt. In fact, last year was the auto industry’s lowest in 17 years.

Furthermore, BMW is hoping to secure its top sales rank in the luxury car segment as it faces off against Audi and Mercedes-Benz, which are both working to steal the No. 1 spot by the end of the decade. In the statement, CEO Norbert Reithofer said that the company is aiming for more sales volume growth throughout the globe this year. It also aims to achieve a record for deliveries.

He said that in multiple markets, the financial situation is expected to “remain challenging.” BMW Group has proposed that last year, it had a record dividend of 2.50 euros per common share compared with 2.30 euros the prior year.

Peter Schwarzenbauer, formerly the sales head of Audi, was hired by BMW in order to get one step further to the top in the premium segment. Schwarzenbauer will be the board member responsible for Mini, Rolls-Royce, BMW motorcycles and group aftersales beginning April 1. BMW widened the gap against its rivals last year with a 12% boost in sales to 1.54 million BMW-brand vehicles, driven by the demand for the new 3 series, 1 series and X1 and X3 SUVs.

If you liked the article, share on:

Comments

Recommended

Automobili Lamborghini’s preparations for the production of its first ever sports utility vehicle, the new Lamborghini Urus, has reached new grounds as the Italian carmaker is disclosing plans to construct...
by - May 26, 2017
The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 2017
The largest gathering of Volkswagen and Audi cars in Europe is underway, and the German premium carmaker is displaying the third model of its G-Tron range at the 2017 Worthersee...
by - May 26, 2017
Have you been wondering how much you have to produce to acquire a 2018 Mercedes-Benz S-Class Facelift? Wonder no more, as Mercedes-Benz has already divulged the pricing – at least...
by - May 26, 2017
Following the M3’s new facelift earlier this year, BMW is once again bringing something fresh to the table. In its newest offering, a cheaper version of the high performance sedan...
by - May 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries