BMW sales in third quarter grown by X3
Despite some initial concerns about the costs of coming up with the F30 BMW 3 Series, the Bavarians have a decent portfolio to rely upon in terms of sales.
Apart from the bread and butter F10 BMW 5 Series, the Germans have ridden out the third quarter of 2011 on the impressive sales of the recently refreshed BMW X3.
Third quarter figures for BMW actually managed to come in better than analysts anticipated based on the economic problems still plaguing Europe at the moment.
In hard numbers BMW’s third-quarter profits have grown by $2.35 billion when compared to 2010, on the basis of a 24 percent raise in net income.
While overall revenue is up by 3.8 percent (translated, that means they made 16.5 billion euros) and operating profit was at a healthy 11.9 BMW didn’t have as good a time as they did in the second quarter.
Reasoning behind this being the aforementioned crisis, the fact that sales of the BMW 1 and BMW 3 Series dropped in expectation of the new F20 and F30 models and the BMW X5’s major rival, the Mercedes ML getting a new version.
The F25 BMW X3 is credited with rescuing the situation over this period and the new 1 and 3 Series are expected to chip in for the rest of the year.
Mind you, while BMW isn’t having the best of times, they are still the overall market leader by quite the margin and despite analysts worries, nobody is exactly expecting blinding deals from them by the end of the year.