BMW Expected To Hit Profit Target, As 1st Quarter Sales Jump By A Third

www.forbes.com
3 min read
fairly easy
BMW expects to more than double profits in 2021 compared with the previous year's coronavirus-ravaged bottom line, while ratings agencies agree and like its electric car plans. Meanwhile BMW sales of its cars and SUVs accelerated 33.5% in the first quarter of 2021 to 636,606.
BMW i4 electric car (Photo by VCG/VCG via Getty Images) VCG via Getty Images

BMW expects to more than double profits in 2021 compared with the previous year's coronavirus-ravaged bottom line, while ratings agencies agree and like its electric car plans.

Germany's Center of Automotive Management (CAM) points out that last year BMW made only €930 ($1,100) per vehicle and if it doubled that in 2021 it still wouldn't come close to the heady days of 2017 when profits hit €3,000 ($3,600) per car.

On Thursday, BMW said sales of its cars and SUVs, including Mini and Rolls-Royce, accelerated 33.5% in the first quarter of 2021 to 636,606, with electrified (pure electric, plug-in hybrids and hybrids) sales more than doubling.

"This puts us on track to deliver more than 100,000 fully-electrified vehicles this year," BMW said in a statement.

BMW shares rose slightly by midday Thursday to €88.86. BMW shares have been on a charge since January's low of about €68.

Last month, BMW announced 2020 profit…
Neil Winton
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