BMW Group has posted what it says are its best ever quarterly net profit and sales volume for the period between April and June.
Second-quarter sales volume of the BMW Group's three premium brands (BMW, Mini and Rolls-Royce) climbed by 5.7% to 605,534 units (2015: 573,079 units), a new high for a quarter.
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Second-quarter revenues rose by 4.5% to EUR25bn (US$28bn), (2015: EUR23.9bn). Group net profit increased 11.4% to EUR1.95bn (2015: EUR1.74bn), also marking a new record for a second quarter.
"We sold more vehicles in the second quarter than ever before and achieved record earnings," said BMW chairman, Harald Krüger. "We are growing profitably while simultaneously implementing our strategy step by step.
"Sustainable profitability on this scale provides us with the financial headroom we need to pursue our work on future technologies such as electric mobility and automated driving.
"For me, there is no 'either/or' between the present and the future. The strength of today's core business is the cornerstone for tomorrow's success."
For the first half of this year, BMW Group also achieved its best ever six-month figures, with sales recorded by the Automotive segment increasing 5.8% to reach a new high of 1,163,139 units (2015: 1,099,748 units).
Six-month revenues edged up 2.3% to EUR45.9bn (2015: EUR44.8b). Group net profit rose by 10% to EUR3.6bn (2015: EUR3.3bn), also marking a new record for the first six months of a year.
The BMW Group maintains it is confident of being able to achieve its projected targets for the current financial year – in the expectation international automobile markets will continue their generally upward trend.
However, these favourable factors contrast with high levels of up-front expenditure for new technologies, fierce competition and rising personnel expenses. The automaker adds the global political and economic environment is also thought to remain volatile.
BMW Group is reaffirming its targets for the full year. "We forecast slight increases, and hence new record figures, for Automotive segment sales volume and profit before tax in 2016," added Krüger.
