BMW capitalized on SUV production and it certainly paid off. BMW is up to nearly a third because of its SUV sales, along with 7-Series large sedan. SUV is known the world over to be the fastest selling segment, so BMW jumped right into it. Thanks to this decision, BMW is even made more profitable.
BMW recently announced that it made a total of 2.15 billion euros ($2.34 Billion) in sales for the first quarter, which is up by 31 percent as compared to 1.64 billion euros in the year-earlier quarter. The biggest contributing factor to this success comes from BMW X5 which is made in Spartanburg, South Carolina.
The SUV sales are reported to be up 18 percent. Even more noteworthy is the sales of its 7-Series large sedan which is up 50 percent. Also, sales in China significantly increased to 12 percent while US sales did increase 0.7 percent. It is not much but still better as it is, at the end of the day, an increase.
— BMW (@BMW) May 2, 2017
With this trend, BMW is committed to shifting its focus to the electric vehicle market, which is still considerably small. BMW doubled its sales of electric models such as i3 and i8 to 20,000 in the quarter. The Munich-based company is bent on pushing to as much as 100,000 units for the entire year.
Just when BMW is enjoying the success of its car sales in the first quarter, even its bike sales significantly rose to 5.5 percent. Late last month, the 2017 BMW Motorrad recorded growth in Europe, Central America, South America, and China. In Europe, Germany still remains the largest market with France coming in at close second.
BMW is definitely off to a great start and has no signs of stopping. It will continue to focus its efforts in sustaining the performance of its SUVs and large sedans, however, shifting its attention to electric vehicles is just as promising. It showed an exceptional increase in its bike segment so it will not be left behind as well.