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BMW off to a roaring start with revenues, earnings rising in Q1

FRANKFURT--German top-of-the-range carmaker BMW said Tuesday it got off to a strong start in 2014 with earnings and revenues rising in the first three months.

“BMW has made a strong start to the current financial year with new record first-quarter figures for sales volume and profit before tax,” said chief executive Norbert Reithofer.

First-quarter net profit climbed by 11.4 percent to 1.462 billion euros (US$2.0 billion).

Underlying or operating profit was up 2.6 percent at 2.09 billion euros and revenues rose by 3.9 percent to 18.235 billion euros.

Unit sales advanced by 8.7 percent to 487,024 vehicles worldwide.

“Based on its strong performance in the first quarter, the BMW group reaffirms its outlook for 2014,” the company said.

“Within a challenging market environment, sales volume and pre-tax profit are both expected to rise to new record levels,” it said.

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