BMW (Bayerische Motoren Werke AG), the Munich-based German luxury vehicle company, said on Monday that the maker of Rolls-Royce had been witnessing a robust rebound on its first-quarterly earnings from a pandemic-battered Q1 of 2020, becoming the latest to flag a soaring auto demand following a block-buster first-quarter earnings’ report from Daimler AG last week.
In point of fact, BMW, which houses long-hailed brands such as BMW, BMW i, BMW M, BMW Mini, BMW Motorrad alongside Rolls-Royce, was quoted saying in the statement that the German luxury vehicle maker’s first-quarterly profit came forth much stronger-than-anticipated, boosted up by a higher price tag alongside soaring demand in China, the world’s largest automotive market.
On top of that, latest statement from BMW comes over the heels of a report from its local peer Daimler AG announced last week that said a soaring demand of its luxury brand Mercedes-Benz in China alongside a higher price tag had yielded a better-than-anticipated profit in first fiscal quarter that ended on March 31.
BMW clocks 370% growth in Q1, 2021 earnings excluidng taxation
Aside from that, the Munich-based German luxury vehicle company that started off its voyage as an aircraft engine manufacturer back in the March of 1916s, said in an unscheduled release that the company had logged a 370 per cent jump on its first-quarterly earnings excluding tax compared to the same time a year earlier with sales surging across all of its brands.
The report, in tandem, had cited a skyrocketing growth momentum in China alongside a higher profit margin, while BMW had added that its Q1, 2021, earnings had topped market expectations by a wider margin. BMW will release its full earnings’ report for first quarter, 2021, on May 7.