BMW Reports Rise in First Quarter Sales Revenue – The Green Car Driver –

BMW CEO Norbert Reithofer announcing the expansion of its Spartanburg plant earlier this year

BMW announced financial results for the first quarter of 2014.

The company’s total sales revenue was €18.235 billion ($25.409 billion), a year-over-year increase of 3.9% from €17.546 billion in the first quarter of 2013. Operating profit for the company was €1.462 billion, an increase of 11.4% from €1.312 billion last year.

Total worldwide deliveries increased by 8.7% year-over-year to 487,024 units sold in the first quarter. Deliveries of BMW and Rolls Royce vehicles increased by 12.3% and 39.7% respectively, while deliveries of MINI vehicles decreased by 12.5%. Worldwide deliveries of motorcycles increased by 16.1% in the first quarter.

Sales revenue for the BMW brand rose by 4.1% to €16.559 billion from €15.907 billion in 2013. Revenue for motorcycles climbed by 8.3% to €472 million from 436 million last year, and revenue for BMW’s Financial Services sector increased by 1.2% to €4.89 billion, from €4.83 billion in the first quarter of 2013.

BMW said that the increase in sales was driven by a 25% increase in sales in China as well as a modest recovery of sales in Europe.

The Bavarian automaker said it expects total sales revenue to increase significantly for 2014, and projects an increase in before-tax profit of 8% to 10% for the year.

(Photo: Accura Media Group)