BMW Reports Q2 2014 Financial ResultsTue, 05 Aug 2014 00:00:00 -0700
BMW reported an 11.2% growth in motorcycle sales revenue for the second quarter ended June 30, 2014, thanks to a new best-ever quarterly record of 42,259 motorcycles sold. The record sales quarter also led to a record of 70,978 motorcycles sold in the first half of 2014, the most motorcycles BMW has sold in a six-month period in the company’s 90-year history in the business.
The second quarter sales result represents a 5.1% increase on the 40,209 motorcycles sold in the same quarter last year. Including the first quarter, BMW has sold 70,978 motorcycles in the first half, up 9.3% from the 64,941 motorcycles sold in the same quarter last year. Unsurprisingly, Germany was BMW’s best motorcycle market, accounting for sales of 12,019 motorcycles in the first half. In the U.S., BMW saw a 9.3% increase, with sales rising to 8,857 units from 8,101.
Motorcycle sales generated €528 million (US$706.1 million) in revenue over the quarter, up from a revenue of €475 million last year. Combined with the first quarter, BMW reports a revenue of €1 billion compared to €911 million in the first half of 2013.
BMW’s motorcycle business produced a net profit of €37 million over the second quarter, compared to €30 million in the same quarter last year. On the year-to-date, the motorcycle segment made a net profit of €80 million, up from €63 million.
As a company, the BMW Group reported a net profit of €1.771 billion over the second quarter compared to a profit of €1.392 billion reported last year.
By Dennis Chung
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