INDUSTRY NEWS
BMW plugging the profits back in for the future
BMW is increasingly focused on its electric vehicle strategy after another profitable year in 2017
The BMW Group clambered over the €10bn pre-tax profit mark for the first time in 2017 on the back of selling a record 2,463,526 cars. Its profit margin has remained in an 8% to 10% window for the eighth consecutive year on €98,678m in revenues. It lifted its earnings before tax result by 10.3% to €10,665m, with the group ending the year with €14.5bn in available cash. Its sales rose 4.2% following a 14.7% jump from the 1 Series to 201,968 cars, a 9.6% leap from the SUV X models and a 6.3% rise from the 5 Series, to 291,856 cars. Mini’s Countryman scored 30% growth. Twenty-four hours after Dieselgate investigators from the Munich public prosecutor’s office raided its headquarters, the BMW Group declared diesel remained a core pillar of its plans to reduce CO2 emissions. Board of management chairman Harald Krüger insisted the group would launch 20 new or revised cars in 2018 and confirmed it would build two all-electric cars, the iNext and the i4, in Germany. It will build the i4 in i...
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