BMW heads for record sales after bigger-than-forecast profit

DPA Munich | Updated on August 05, 2014

The world’s leading luxury carmaker BMW posted a bigger-than-forecast 27-per-cent gain in second-quarter profit on Tuesday with the group aiming for record sales this year.

Net profit rose to 1.77 billion euros ($2.4 billion) in the three months to the end of June, from 1.39 billion euros in the same period last year, the Munich-based group said. Analysts had forecast a rise to 1.53 billion euros.

“After our record sales volume performance in the first half of the year, we are now targeting a significant increase in the number of vehicles delivered to customers in the current year and hence a new sales record of over two million vehicles,” said BMW chief Norbert Reithofer.

However, the recent strong euro dampened the rise in revenue, which edged up 1.8 per cent to 19.9 billion euros. BMW reaffirmed its sales and earnings forecasts.

Published on August 05, 2014

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