BMW Says Preliminary 1Q Earnings, Sales Grew on Price, Mix, Demand
By Mauro Orru
BMW AG said Monday that earnings before taxes for the first
quarter increased substantially, while sales grew in all its
significant markets, particularly in China, according to
The German luxury car maker said first-quarter earnings before
taxes jumped to 3.76 billion euros ($4.51 billion) from EUR798
million in the first quarter of 2020.
"Positive price and mix effects, as well as high demand for
pre-owned cars, also lead to key financial performance figures of
BMW AG which exceed market expectations in a positive current
environment," the company said in a statement.
BMW said first-quarter earnings before interest and taxes in its
automotive segment rose to EUR2.24 billion from EUR229 million,
while the corresponding EBIT margin climbed to 9.8% from 1.3%.
BMW is scheduled to post full results for the quarter on May
Write to Mauro Orru at email@example.com
(END) Dow Jones Newswires
April 19, 2021 13:34 ET (17:34 GMT)
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