The German luxury car manufacturer BMW announced that its net profit in 2017 soared by 26 percent to a record 8.7 billion euros, driven by strong demand for electrified vehicles and tax reform in the U.S.
The Munich-based group reported on Thursday that it delivered 103,080 electrified car models last year, an increase of 65.6 percent compared to the previous year. They aim to deliver half a million by the end of next year.
Last year, the group, which also owns the Mini and Rolls-Royce brands, delivered 2.46 million vehicles, 4.1 percent more than the previous year.
“We have had the most successful year in the history of our company – for the eighth consecutive year, we achieved record levels of revenue and profit,” emphasized BMW CEO Harald Krueger.
According to the set goals, 2019 should also be a record year, and this year they plan to further increase the number of vehicles delivered.
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“This year we are aiming for a new record in sales, with a slight increase in the number of vehicles delivered compared to the previous year,” notes Krueger.
BMW did not mention concerns about a trade war following U.S. President Donald Trump’s threat to impose tariffs on steel and aluminum imports.
However, they warned that they expect the “political and economic environment to continue to be marked by strong fluctuations.”
