BMW Group on course despite exceptional expenses

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The FINANCIAL -- The effects from the international financial crisis resulted in the recognition of exceptional expenses in the first quarter. Thanks to the strong operating performance, the BMW Group nevertheless remains on course towards achieving its ambitious targets for the full year.

"Adjusted for the exceptional gain on the settlement of the exchangeable bond on shares in Rolls Royce in 2007, we are still aiming to post higher pre-tax earnings than last year" stated Norbert Reithofer, Chairman of the Board of Management of BMW AG on Tuesday in Munich. The BMW Group is still heading towards sales volume records for all three brands in 2008.

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First-quarter sales volume record

The BMW Group sold more vehicles in the first three months of the current year than ever before in a first quarter. The total number of BMW, MINI and Rolls-Royce brand cars sold increased by 5.6% to 351,787 units (first quarter 2007: 333,276 units).

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The MINI brand also recorded good growth with the first-quarter sales volume up by 23.6% to 58,054 units (first quarter 2007: 46,978 units). The launching of the new MINI Clubman was a great success: almost 16,000 units have been handed over to customers since its market introduction in November 2007. The MINI brand continues to generate a very high-value product mix. In total, 14.1% of customers opted for the MINI One, 59.6% purchased the MINI Cooper and 26.3% chose the MINI Cooper S.

Source:  FinChannel.com

Article Date: Apr 30, 2008
Car Accociations: NEW_MINI
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