BMW Reports Q2 2012 Results
BMW reported a 8.9% decrease in motorcycle sales revenue over the second quarter of 2012 but still managed a 1.3% increase over the first half.
According to German manufacturer’s second quarter report, the BMW and Husqvarna combined for 410 million euros (US$507.7 million) in revenue over the second quarter ended June 30, 2012, a decrease from the 450 million euros reported in the same period last year. Revenues for the first half totaled 858 million euros (US$1.06 billion), a 1.3% year-over-year increase from 847 million euros.
BMW sold 34,816 motorcycles over the second quarter, a 7.1% decrease from 37,476 units sold in the corresponding quarter in 2011. Husqvarna sales were up 63.1% however, growing to 2,593 units from 1,590 units sold in Q2 2011. Overall, the two brands combine for sales of 37,409 units over the second quarter of 2012, a 4.2% decrease from 2011’s sales of 39,066 units.
As previously reported, first half sales are down 2.3% to 59,189 units compared to 60,580 units in the first half of 2011.
First half sales were negatively impacted by the European debt crisis, leading to a 23.1% decrease in sales in Spain and a 30.7% decrease in Italy. Sales were also down 7.4% in Great Britain. On the positive side, German sales increased 3.3% while sales in France increased 15.7%.
U.S. sales were even more positive, with American consumers buying 7,926 motorcycles in the first half, a year-on-year increase of 28.9% from 2011. Brazil proved to be another bright spot, with BMW reporting a year-on-year increase of 76.8%. With 3,339 units sold in the first half, BMW’s sales in Brazil have exceeded the 2,835 units the company sold in Spain, traditionally one of the larger motorcycle markets in Europe.
BMW predicts the European market will continue to struggle the rest of the year, especially in the southern nations like Italy and Spain. Sales in the U.S., Brazil and Japan are expected to continue growing throughout 2012.