Demand for offroaders drives up BMW operating profit

BMW’s second-quarter operating profit beat expectations thanks to record sales of luxury cars including the X1 offroader and the new 7 series.

Earnings before interest and taxes (EBIT) rose 7.9 per cent to €2.73 billion, above consensus for €2.65 billion in a Reuters poll.

The return on sales at BMW’s automotive division rose to 9.5 per cent from 8.4 per cent a year earlier, the company said on Tuesday, the 25th consecutive quarter in which automotive profits have been within its target range of between 8 per cent and 10 per cent.

–(Reuters)