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BMW reports record profits

BMW has reported record profits for the first quarter of 2001.

In total, 221,777 BMW brand vehicles were sold - a 9.7% increase over the first quarter 2000.

Total sales of the BMW Group reached £5.84m (first quarter 2000: £5.45m) in the first quarter, an increase of £392m (+7,2%) compared with the same period last year. Adjusted by the external sales in the year 2000 attributable to Rover/Land Rover (£1.1m), this is an increase of 33.5%.

In the BMW Group, profit from ordinary activities, at £531m(first quarter 2000: £123m) was £409m (+333%) higher than in the same period in the previous year. In the first quarter 2000, losses at Rover totalled £226m.

Profits rose from £54m in the first quarter 2000 to £255m in the first quarter.

Prof Joachim Milberg, chairman of the BMW board of management, said: "The record figures for the first quarter 2001 prove that our consistent focus on premium brands is taking effect and is being successfully implemented. We are using the strengths of the BMW Group to achieve further profitable growth and are continuing our far- reaching product offensive."

Further success is forecast on the back of a “product offensive” in the BMW core brand and new group brands, Mini and Rolls-Royce.

New BMW cars will include a large coupé and convertible in the tradition of the BMW 6 series, the BMW X3 will be supplementing the X5 in the Sports Activity Vehicle sector and from 2004, there will be a BMW 1 series entering the lower middle class segment.

In February, the new BMW 3 series compact was unveiled at the Geneva Motor Show and will be available to customers from June. In addition, the M3 convertible, the X5 4.6is and the new BMW 7 series will be launched this year. In July 2001, the Mini One and the Cooper will be launched in the UK, followed by the market launch in Germany and the rest of Europe from September.

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