The BMW Group set a new record for first-quarter deliveries with an increase of 33.4% to 636,606 units compared to the previous year in 2020 of 477,111. Q1 financial results showed a return in booming automotive segments of 9.8% EBIT. Demand for electrified vehicles – plug-in hybrids and fully electric – contributed to sales performance, with deliveries more than doubling compared to the same quarter one year earlier with a total of 70,207 electrified vehicles delivered to customers during the three-month period (2020: 30,692 units; +128.7%), including 14,161 units of the fully electric BMW iX3, BMW i3 and MINI Cooper SE models (2020: 6,457 units; +119.3%).
Improved revenues and earnings of €4.26 per share were driven by a combination of higher sales volume figures across all regions of the world, particularly in China, and higher selling prices. Helpful effects also came from the sharp rise in prices of used vehicles, causing revenues from the sale of previously leased vehicles to rise, above all in the USA where the Biden Administration economy is soaring. Group revenues grew by 15.2% to €26,778 million (2020: €23,252 million; +18.9% adjusted for currency factors). Continue reading
Census Bureau – 26% of Adults Struggle on Expenses
The U.S. Census Bureau reports that the negative social and economic effects of COVID-19 continue in the latest Household Pulse Survey that ended in April. Of pressing concern – adults living in households not current on rent or mortgage, 30.6% report eviction or foreclosure in the next two months is somewhat or very likely. Continue reading →