FRANKFURT, Germany — German luxurious automaker BMW says internet revenue fell 23% final 12 months to three.86 billion euros ($4.62 billion) because the coronavirus pandemic shuttered factories within the first a part of the 12 months. The maker of the X5 sport utility and 3-Sequence sedan mentioned a powerful second half meant it began 2021 with “a positive tailwind.”
Working income for the second half of final 12 months have been 9.8% larger than the second half of 2019. The Munich-based firm’s gross sales have been boosted by the early and robust financial restoration in China, the place 2020 gross sales topped the 12 months earlier than by 7.4%.
China, the corporate’s largest single market, helped BMW offset sharp drops in gross sales in Europe and the U.S.
Earnings have been additionally supported by progress within the higher luxurious section together with the massive 7-Sequence sedan and the X7 SUV. These choices carry larger income per automobile than smaller vehicles.
Gross sales of its Rolls-Royce luxurious vehicles have been off 26% to three,756 throughout 2020, a fall attributed to a mannequin change for the model’s best-selling mannequin, the Ghost. The corporate mentioned the order guide for the Ghost is now full nicely into the second half of 2021.
