The company pulled in an impressive €5.58 billion ($6.68 billion) in profit.
Daimler and Volkswagen Group make up two of the largest automakers in the world. Both ranked in the top 15 worldwide in 2015, with VW taking the number two spot just behind Toyota. But neither Daimler nor VW can match the kind of incoming revenue that BMW Group is currently experiencing.
According to a study by consulting firm Ernst & Young, by way of Germany’s Manager Magazine, BMW Group pulled in €49.25 billion ($51.5 billion) in the first half of 2017, representing a profit of €5.58 billion ($6.68 billion) and a profit margin of 11.3 percent. No other automaker has been able to beat such a profit margin this year.
Surprisingly, Suzuki comes the closest to BMW with a profit margin of 10.3 percent, while Daimler follows in third with a 9.7 percent profit margin. GM, with a profit margin of 7.7 percent, and VW make up fourth and fifth. VW historically ranks the highest throughout the first half of the year, but the ongoing Dieselgate scandal undoubtedly did the company no favors.
The boost in revenue can be contributed, in part, to BMW’s success in China. BMW Group, Daimler, and VW make up nearly one out of every three vehicles sold in the region, with steady, if not below-average sales in markets like North America and Europe. The BMW 7 Series in particular made up more than 26.9 percent of overall sales over the previous year.
Furthermore, the BMW success train is bound to keep on rolling. The company just recently introduced its new 600-horsepower (447 kilowatts) M5, and together with the upcoming X4 – which we’ve just recently seen in full thanks to spy photos – the German automaker is on pace for another record year.
Source: Manager Magazine