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BMW Achieves Record Q1 Sales On Strong U.S., China Demand

German carmaker Bayerische Motoren Werke AG or BMW Group (BAMXY.PK, BAMXF.PK,BMW.L) said Wednesday that it sold more than 400,000 BMW, MINI and Rolls-Royce brand vehicles worldwide in the first quarter, boosted by strong demand in both the U.S. and China. The company said it achieved its best ever first quarter in worldwide sales.

In the U.S., sales in the month of March rose 13 percent to 29,806 vehicles. Year to date, BMW recorded a 16.6 percent increase in U.S. sales to 75,729 vehicles. In China, the company sold more than 75,000 vehicles in the first quarter, representing a 28 percent increase from the same period last year.

BMW noted that since the launch of the BMW X1 small sports utility vehicle at the end of 2009, over 264,000 units have been sold worldwide.

Ian Robertson, Member of the Board of Management, Sales and Marketing of BMW, said at the New York Auto Show, "We have seen over 16% growth in the U.S. this quarter and we expect further momentum with the new BMW 3 Series Sedan on the market, as well as the introduction of the BMW X1 to the U.S. in September this year."

The company will release final figures for its March sales on April 11.

Earlier in the day, rival German automaker Daimler AG (DDAIF.PK) backed its earnings and revenue forecast for fiscal year 2012 after reporting strong vehicle sales for the first quarter.

Daimler said its first-quarter vehicles sales increased from last year, with 12 percent rise in unit sales of Mercedes-Benz Cars to more than 340,000 units and 20 percent increase in Daimler Trucks sales to about 107,000 vehicles.

On Frankfurt's Xetra, BMW is currently trading at 66.53 euros, down 1.46 or 2.15 percent on a volume of 1.73 million shares.

by RTTNews Staff Writer

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