BMW sees Q1 profit boost

AFP, FRANKFURT: German luxury carmaker BMW yesterday said it was “confident” of achieving its objectives for 2017, as it reported a leap in profits in the first three months.
Net profit at the group grew 31 percent year-on-year to 2.15 billion euros ($2.34 billion) between January and March, on revenues up 12.4 percent to 23.45 billion euros.
BMW pointed to increased sales as it began launching a slew of new models slated for the next two years, including a doubling in sales of electric-powered cars.
“We expect the BMW group’s three premium brands to set new delivery records again in 2017,” chief executive Harald Krueger said in a statement.
Alongside the group’s own-brand cars, BMW also operates Mini and Rolls-Royce as subsidiaries.
BMW noted that as well as a sales boost, financial effects contributed steeply to its bottom line.

BMW sees Q1 profit boost

AFP, FRANKFURT: German luxury carmaker BMW yesterday said it was confident of achieving its objectives for 2017, as it reported a leap in profits in the first three months. Net profit at the group grew 31 percent year-on-year to 2.15 billion euros ($2.34 billion) between January and March, on revenues up 12.4 percent to 23.45 billion euros. BMW pointed to increased sales as it began launching a slew of new models slated for the next two years, including a doubling in sales of electric-powered cars. We expect the BMW groups three premium brands to set new delivery records again in 2017, chief executive Harald Krueger said in a statement. Alongside the groups own-brand cars, BMW also operates Mini and Rolls-Royce as subsidiaries. BMW noted that as well as a sales boost, financial effects contributed steeply to its bottom line.