BMW has revised its earnings outlook in light of a recovering auto market. Shares in BMW and Daimler jumped today as it was announced that demand for high-performance models continues to rebound strongly from last year”s extremely low performance.
BMW”s volume is set to increase by 10% this year, after an earlier, more modest forecast of “˜a “solid” single-digit”. For the first half of the year, BMW, Mini, and Rolls Royce have combined for 696,026 units moved in total; 13% higher than one year ago. China, Russia, and other emerging markets are primarily to thank for this.
Daimler had previously raised its original earnings expectation after Mercedes overtook Audi and became the world”s number 2 selling premium brand for the first time in six months. Mercedes sales have climbed 26% in the U.S. alone this year.
– By: Stephen Calogera
Source: Automotive News (Subscription Required)