BMW Reports Q2 2011 Results
BMW posted another record quarter, reporting sales of 37,471 motorcycles in the three months ended June 30, 2011.
First quarter unit sales were 3.6% higher than the 36,175 motorcycles sold in the same quarter of 2010. Combined with a record first quarter, BMW has sold 60,580 units in the first half of the year, a 6.3% increase over 2010.
European motorcycle sales increased slightly primarily due to a surge in sales in Germany. Results were less positive in BMW’s other key European markets such as the U.K., France, Italy and Spain which all reported decreased sales figures. U.S. motorcycle sales were also down, with American consumers buying 3,829 units, a 5.1% decrease from the 4,036 units purchased in the second quarter of 2010.
The second quarter sales increase was negated however by BMW’s Husqvarna brand, sales dropping 47.4% to 1,590 units from 3,020 units. The two motorcycle brands combined, the BMW Group saw a 0.3% decrease in unit sales. BMW cited restructuring efforts and a decreased demand for off-road motorcycles as reasons for the drop in Husqvarna sales.
The BMW Group reported sales revenue of 450 million euro (US$638 million) over the second quarter, a year-on-year increase of 2.5%.
Net profit from motorcycle sales dipped slightly to 33 million euros (US$46.8 million) from 34 million euros (US$48.2 million), again thanks largely to expenses from the realignment of the Husqvarna brand.
Overall, the BMW Group reports a profit of 1.8 billion euros, (US$2.6 billion), thanks largely to an 18.5% increase in sales from its BMW, Mini and Rolls Royce automobile brands.
Looking ahead to the rest of the year, BMW forecasts an increase in motorcycle sales despite a stagnant market. Because of restructuring costs for the Husqvarna brand, the BMW Group expects an overall decrease in profit from its motorcycle divisions.
BMW Reports Q1 2011 Results