It seems like it not all doom and gloom these days for luxury car manufacturers. BMW This week have announced record financial results that have seen their revenue increase by 16.5% to 17.9 billion euros. With this BMW saw, in a three month period from April to June 2011, an 18.5% increase in units sold, totalling 450,608 cars.
The BMW 5 Series has been a stand out in these financial reports
These results are showing that economic times aren’t as detrimental as in the previous years. Two of the stand out motors that have helped BMW boost sales were the X1 and the new 5 series, the increasing popularity of the X1 doesn’t seem to be slowing down with sales boosting up 34.2% and a massive 80.3% for the new 5 series which totals 170,708 for the 5 series alone.
Norbert Reithofer, Chairman of the Board of Management of BMW AG have the following to say:
“The first half of 2011 has been the best six month period in the BMW Group’s history. We have achieved new sales volume, revenues and earnings records both for the second quarter and six month period. Strong demand worldwide for BMW, MINI and Rolls-Royce brand cars, together with efficiency improvements in all areas of the company have contributed greatly to this outstanding performance.”
As if the brilliant sales hadn’t buoyed the BMW group enough, their financial sector also saw great increases in their financial revenue. During the last couple of years there has been a huge increase in company leasing and it seems no different with the financial report showing that BMW leasing is also at a huge increase. The total number of lease and finance contracts increased by 5.1% to 3,277,247 in June 2011. As well as this the number of new contracts signed went up by 12.2% with the leasing business overall growing by 20.4% over the same period.
It seems the financial crisis in the car manufacturer industry is steadily slowing down with more people feeling comfortable when it comes to buying a new car or leasing a vehicle. This can only show good signs for the future of the automobile industry if the likes of BMW and their sister companies are showing increasing profits and turnover.
