BMW has seen record sales and profits in the first quarter of 2018, confirming its full year targets.
The Munich-based marque saw its net profits for the first three months of 2018 increase 1.2 per cent year-on-year to £2.02bn.
Meanwhile, unit sales rose three per cent, reaching 604,629 in total between the three BMW Group brands – BMW, Mini and Rolls-Royce.
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In terms of regions, these sales were up one per cent in Europe, four per cent in North and South America, and 6.3 per cent in China.
The firm’s chief executive, Harald Krueger, pointed out “crucial strategic decisions” taken by BMW in the first three months of 2018, laying the foundations for more connected electric vehicles (EVs) in the future.
BMW has also made an agreement with Daimler, the parent company of Mercedes-Benz and a historic rival, to combine their apps for car-sharing, ride-hailing, and locating parking spaces and EV charging points, as well as opening an autonomous research centre outside Munich.
Furthermore, BMW also entered a deal with Great Wall to have the new all-electric Minis built in China, as the German brand previewed its iX3 electric SUV concept.
Looking forward in anticipation of the full year results, BMW is expecting to see new records for both revenue and unit sales, with pre-tax profits of at least £9.4bn.
