BMW has just released an interim sales report for their entire worldwide network. According to the Munich-based automaker, the sales growth was significant in all significant regions of the world, in particular in China, and all brands in the first quarter of 2021. In addition, positive price and mix effects, as well as high demand for pre-owned cars, also lead to key financial performance figures of BMW AG which exceed market expectations in a positive current environment.
Based on preliminary figures for the first quarter 2021, Automotive segment EBIT is €2,236 million (Q1 2020: €229 million), Financial Services segment EBT is €787 million (Q1 2020: €484 million) and Group EBT is €3,757 million (Q1 2020: €798 million). The Automotive segment EBIT margin is 9.8% (Q1 2020: 1.3%).
The positive operating performance and the continued focus on working capital management lead to the free cash flow of €2,522 million (Q1 2020: -2,218 million) in the Automotive segment, also exceeding market expectations. BMW says that further details will be published in the Quarterly Statement for the period to 31 March 2021 on 7 May 2021.
The U.S. market also reported great numbers in Q1 2021. According to a press release, the North American branch sold 71,433 vehicles in the first three months of the year, a 20.1% increase from the 59,455 vehicles sold in the first quarter of 2020. The MINI brand also shows an increase of sales. The British marque sold 6,285 vehicles in the first quarter of 2021, an increase of 20% vs the 5,237 vehicles sold in the first quarter of 2020.