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BMW's Second Quarter Stronger than Anticipated

The results for the second quarter of 2013 were just announced and, as BMW AG's own CEO, Norbert Reithofer said, they are better than expected.
BMW Badges 1 photo
Photo: BMW
Overall, the Group's revenues rose to €19.55 billion ($25.92 billion) in the second quarter whilst the profit went up to €2.03 billion ($2.7 billion) before taxes (€1.39 billion after taxes).

The company achieved a new sales volume record on the second quarter, despite falling European markets. For the remaining months of 2013, the prospects remain the same, the BMW Group expecting sales to increase even further.

"After the first six months of 2013, we remain on track to achieve our goals for the year as a whole. However, our forecast assumes that global economic and political conditions do not worsen significantly," stated Norbert Reithofer, the Chairman of the Board of Management of BMW AG on Thursday in Munich.

"The BMW Group achieved a strong second quarter performance despite the headwinds on many automobile markets in Europe. At 9.6%, the operating margin in the Automotive segment was at the top end of our targeted range", he added.
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