As expected, the BMW Group's sales volume for the first quarter 2008 was up on the previous year.
In total, 351,787 BMW, MINI and Rolls-Royce brand cars were sold worldwide during the first three months of 2008. The BMW Group has therefore achieved a new first-quarter sales volume record in the face of difficult business conditions.
In its motorcycle business, the BMW Group was unable to match the previous year's high first-quarter sales figure. 21,046 BMW motorcycles were sold during the first three months of 2008, 8.6 % fewer than one year earlier due mainly to model life-cycle factors.
The Financial Services segment was able to expand the volume of business generated in the period under report. At the end of the first quarter 2008, a total of 2,701,860 lease and financing contracts were in place with dealers and retail customers, up 15.6 % compared to one year earlier.
Reported earnings affected by external factors Group revenues rose by 11.2 % to euro 13,285 million, reflecting the sales volume increase recorded in the first quarter 2008. The US dollar exchange rate against the euro held down the increase in revenues.
Adjusted for exchange rate factors, Group revenues rose by 16.6 %.
The financial crisis, rising raw material prices and the further weakening of the US dollar all had a negative impact on first-quarter Group earnings.
The profit before financial result amounted to euro 827 million, 9.3 % down on the same quarter last year.
External factors also affected profit before tax. At euro 641 million, the result was 24.8 % lower than the previous year's figure. The first-quarter net profit of the BMW Group fell by 17.0 % to euro 487 million.
In total, 351,787 BMW, MINI and Rolls-Royce brand cars were sold worldwide during the first three months of 2008. The BMW Group has therefore achieved a new first-quarter sales volume record in the face of difficult business conditions.
In its motorcycle business, the BMW Group was unable to match the previous year's high first-quarter sales figure. 21,046 BMW motorcycles were sold during the first three months of 2008, 8.6 % fewer than one year earlier due mainly to model life-cycle factors.
The Financial Services segment was able to expand the volume of business generated in the period under report. At the end of the first quarter 2008, a total of 2,701,860 lease and financing contracts were in place with dealers and retail customers, up 15.6 % compared to one year earlier.
Reported earnings affected by external factors Group revenues rose by 11.2 % to euro 13,285 million, reflecting the sales volume increase recorded in the first quarter 2008. The US dollar exchange rate against the euro held down the increase in revenues.
Adjusted for exchange rate factors, Group revenues rose by 16.6 %.
The financial crisis, rising raw material prices and the further weakening of the US dollar all had a negative impact on first-quarter Group earnings.
The profit before financial result amounted to euro 827 million, 9.3 % down on the same quarter last year.
External factors also affected profit before tax. At euro 641 million, the result was 24.8 % lower than the previous year's figure. The first-quarter net profit of the BMW Group fell by 17.0 % to euro 487 million.
