BMW Reports Q1 2011 Results
Sales are up but profit remains level
The German manufacturer reported sales revenue of 397 million euros (US$589.9 million) over the quarter, an increase from the 351 million euros (US$521.7 million) from the same quarter in 2010. Despite the increase in sales, profit before tax from BMW Motorrad matched last year’s total of 30 million euros (US$44.6 million).
BMW sold 25,049 motorcycles over the first quarter, an 11.4% increase from the first quarter of 2010. The total includes 23,109 BMW motorcycles (up 10.9% from 2010’s 20,840 units) and 1,940 from its Husqvarna subsidiary (an 18.4% increase from the 1,639 Husqvarna motorcycles sold in the first quarter of 2010).
European motorcycle sales were up 6.5% from last year at 17,260 units, but that was mostly due to a 36.8% increase in sales in Germany (4,395 units). Unit sales were otherwise down in BMW’s main European markets, Spain (1,439 units; -8.3%), Great Britain (1,643 untis; -34.3%), Italy (4,432 units; -4.9%) and France (1,913 units; -7.4%). U.S. sales were also down 4.8% at 2,319 units from 2,436 units in 2010.
For the remainder of 2011, BMW foresees increased motorcycle sales despite an overall worldwide market that is expected to remain steady at 2010’s levels.