BMW released its year-end 2012 financial report, reporting revenues of 1.49 billion euros (US$1.93 billion) from its motorcycle business in 2012, up from 1.44 billion euros in 2011. The increased revenues came in a record year for BMW with the company selling an all-time record of 106,358 motorcycles in 2012.
Despite the increase in sales revenue, BMW reported a much smaller profit from its motorcycle business, earning 9 million euros (US$11.6 million) in 2012, compared to 45 million euros in 2011. The decrease is mainly due to the sale of Husqvarna to Pierer Industries announced earlier this year. BMW says it decided to sell Husqvarna to focus on urban mobility and electric-powered vehicles, though a shrinking market for off-road models was another contributing factor. The sale is still subject to Austrian merger control authorities, which are expected to approve the sale in the first half of 2013. Continue Reading »