BMW global vehicle sales in August surge 23%
FRANKFURT: Bayerische Motoren Werke AG, the world's largest maker of luxury cars, said worldwide sales surged 23% last month on new demand for new versions of the mid-sized 3-Series and large 7-Series models.
It sold 99,193 BMW, Mini, and Rolls Royce vehicles last month. Sales in the first eight months of 2005 gained 11% from a year earlier to 856,731 units, the Munich-based company said in an e-mailed statement yesterday. Demand for the BMW brand in August rose 24% to 85,079 vehicles.
Chief executive Helmut Panke last year boosted profit by 14% to a record 2.22 billion euros (US$2.75bil) as new models attracted customers from competitor DaimlerChrysler AG's Mercedes-Benz.
The “relatively strong'' euro, costs of steel and oil, and increased competition were holding back 2005 profit growth, Panke said early last month.
“Our growth was extraordinarily strong in August,'' Michael Ganal, the carmaker's sales chief, said in the statement. “Over the year, we continue to expect the BMW Group to achieve an increase in sales in the high single-digit percentage range.''
BMW maintained its lead over DaimlerChrysler's Mercedes Car Group, which yesterday said it sold 86,600 Mercedes-Benz, Smart and Maybach vehicles in August.