BMW rebounding, posts $424M profit

BMW comes in with a rebounding $424 Million profit for the 1st quarter. Another sign that the auto market is in a steady uplift from the last 2 years as BMW sees 2010 earnings dynamically increases over the course of the year. One of the biggest stories for BMW was that China sales doubles in the quarter as the beat goes on in China.

From Detroit News.com:

German luxury automaker BMW AG reported a $424 million first-quarter profit on Wednesday, reflecting a recovery in demand for premium cars from last year’s deep slump.

BMW said it expected the launch of its key 5 Series sedan during the second quarter to help it gain further momentum.

“We expect that earnings will grow dynamically over the course of the year,” said Chief Executive Norbert Reithofer.

“We intend to remain the world’s leading provider of premium cars in 2010,” he said in a statement. The Munich-based company sells premium cars under the BMW, Rolls-Royce and Mini brands.

Read the full article here.


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Vorsteiner GTRS3 Widebody M3 Unveiled

Bold, Fresh, Cocky or BadAss, they all fit this one here! The Vorsteiner wide body GTRS3 M3 is all that and a bag of chips!

The carbon fiber experts at Vorsteiner have out-done themselves, with their latest creation the widebody GTRS3 M3. Designed for the E92 M3, the kit includes a new carbon fiber bumper with a removable splitter, as well as carbon fiber front and rear fenders, side skirts and a new carbon rear bumper with a racing-style diffuser. A carbon fiber hood is also available, as is a carbon trunk and a stainless steel exhaust system.

Read the full article here.

  

Hyundai Equus to Rival S-Class, but priced in the Mid $50,000 Range

This is not a misprint. Hyundai to bring luxury vehicle to challenge BMW, Mercedes and Lexus. That’s right, the Hyundai Equus is on it’s way to the U.S. with all of the goodies inside and out to take on the big boys. Will the Equus be a hit in the mid 50k range? We’ll know soon enough.

From AutoGuide.com:

It certainly looks like a flagship luxury sedan, created to rival established German saloons like the 7 Series and S Class, but it costs roughly half the price and… it’s a Hyundai? Yes, debuting at the New York Auto Show, Hyundai will now offer its flagship luxury sedan from Korea in the U.S. aiming to, “compete with the best luxury sedans in the world on all levels.”

Pricing for the Equus has yet to be locked-down, but Hyundai says it expects to be able to sell the car in the mid $50,000 range. And while the Equus isn’t likely to win over many buyers from Mercedes, the package is an attractive one for Lexus LS shoppers, with the LS460 riced in the mid $60,000 range.

The Equus more than just looks like a proper luxury barge, using a powerful V8 engine and riding on a proper rear-drive architecture (an elongated version of that used for the Genesis Sedan). The Equus is actually 7.2-inches longer than the Genesis at 203.1-inches. That makes it longer than the extended wheelbase Lexus LS, plus it’s wider than either the S-Class or 7 Series.

Read the full article here.

  

Is the money still in luxury cars?

Economy got you down? Things aren’t so bad for BMW and VW as they show that there are still plenty of profits in the luxury segment. These two companies are very different but are both known to print money with higher end saloons.

From the New York Times:

FRANKFURT — The market for luxury cars is recovering, but makers of the lower-priced cars that most people drive could struggle with meager profits for years to come. That was the message to be drawn from earnings reports released by Bayerische Motoren Werke and Volkswagen on Thursday.

BMW said that its car division returned to profit in the fourth quarter of 2009, as sales stabilized in established markets and grew in emerging countries like China and Brazil. Soaring demand for higher-priced models like the top-of-line 7 Series contributed to the gains.

For the full year, net profit at BMW beat expectations, falling 36 percent to €210 million, or $286 million. Analysts surveyed by Reuters had on average forecast a profit of €174 million. Sales fell 4.7 percent to €50.7 billion.

Read the full article here.


Photo from fOTOGLIF

  

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