MUNICH (dpa-AFX) - German luxury car giant Bayerische Motoren Werke AG or BMW Group (BAMXY.PK, BAMXF.PK, BMW.L) reported Tuesday that its first-quarter Group net profit increased 11 percent to 1.46 billion euros from last year's 1.312 billion euros.
Group revenues rose 3.9 percent to 18.235 billion euros from 17.546 billion euros a year ago, on the back of good sales volume figures.
The total number of BMW, MINI and Rolls-Royce brand cars delivered to customers worldwide went up by 8.7 percent to 487,024 units from last year's 448,200 units.
Further, BMW Group reaffirmed its targets for full year 2014. Citing a strong first quarter, the company still expects fiscal 2014 Group profit before tax to increase from last year's 7.913 billion euros and sales volume to increase from last year's 1,963,798 units, within a challenging market environment.
Norbert Reithofer, Chairman of the Board of Management, said, 'We are on course to achieve significant sales volume growth in the current year, leading to a new all-time high of over two million vehicles.'
Copyright RTT News/dpa-AFX