Asia, US push German BMW Q4 and full-year net income higher

14 March 2013 15:53  [Source: ICIS news]

HOUSTON (ICIS)--German car maker BMW reported on Thursday higher Q4 and full-year net income thanks to strong sales growth in Asia and the US.

BMW also forecast continued growth in 2013, but cautioned that “economic conditions are likely to remain challenging in many markets".

For the fourth quarter ended 31 December, the luxury car maker reported that net income rose 37% to €1.21bn ($1.57bn) on sales that increased 12% to €20.5bn.

Profits for the full year increased by 4.4% to €5.1m on revenues of €76.8bn, an increase of 11.7% compared with a year ago.

By region, BMW said sales were up strongly most everywhere but Europe. Asian sales were up 31.4%, including a 40% uptick in China. Japan sales rose 19%, and US sales were up 13.8%.

In Europe, which has seen sales drop to nearly 20-year lows, BMW sales inched up less than 1%.

The American Chemistry Council (ACC) estimates that each automobile contains an average of $3,297 (€2,440) worth of chemicals such as acrylonitrile-butadiene-styrene (ABS), nylon, polycarbonate (PC) and others.

 

($1 = €0.77)


Author: Mark Yost



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