BMW Group has hailed its fifth record year in succession in 2014, with new highs for sales volume, revenues and group earnings.

“We continued to perform well during the past year,” said Norbert Reithofer, Chairman of the Board of Management of BMW AG, speaking in Munich.

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“Tailwinds caused by high customer demand for our vehicles worldwide are driving up sales volumes. Our Strategy Number ONE, which we regularly refine as we go forward, continues to contribute to our business performance,” he said.

Net profit for BMW Group improved by 9.2% to EUR5,817m.

Group revenues grew by 5.7% in 2014 to EUR80,401m. Profit before financial result (EBIT) rose by 14.3% to EUR9,118m on sales growth and a high-value model mix, BLW said. Group profit before tax (EBT) increased by 10.3% to a new high of EUR8,707m.

Overall group sales volume surpassed the two-million mark for the first time in the BMW Group’s history, climbing by 7.9% to a total of 2,117,965 units (2013: 1,963,798 units).

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BMW said its board and the Supervisory Board will propose to shareholders at the Annual General Meeting on 13 May 2015 that the dividend be increased to a new high of EUR2.90 per share of common stock and EUR2.92 per share of preferred stock.

“Our proposal to pay a record dividend clearly reflects our intention to include shareholders in the BMW Group’s successful performance. The distribution rate of approximately 33% is clearly within the BMW Group’s target range of 30 – 40%,” said Friedrich Eichiner, member of the Board of Management responsible for Finance.

BMW claimed its BMW brand retained its leading position in the premium segment in 2014 by posting a new record sales volume figure. Sales climbed by 9.5% to 1,811,719 units (2013: 1,655,138 units), driven, it said, by the sales performances of the BMW 3, 4 and 5 Series and the BMW X5.

The BMW Group recorded sales volume growth in all major sales regions. The four largest sales markets for the BMW Group over the past year were China, the USA, Germany and Great Britain.

Group car sales in China grew by 16.6% to 456,732 units, while US sales were up to 396,961 units, a gain of 5.4%.

The group plans to launch 15 new models or model revisions over the course of 2015, which it said will bring a further increase to sales in 2015. “We are targeting further sales volume growth worldwide in the current year and hence a new record level for deliveries,” added Reithofer.