BMW Group more than triples net profit, posts record result in 2021

The BMW Group more than tripled its net profit to a record 12.5 billion euros in 2021, the German carmaker said on Thursday, reported Xinhua.

Group revenues rose by 12.4 percent year-on-year and reached 111,239 million euros, as BMW met its targets for fiscal 2021, according to the company. BMW has also stepped up the electrification of its product range.

The company will raise the dividend at its Annual General Meeting in May, bringing the annual disbursement of dividends to 3,827 million euros, after 1,253 million euros the year before.

Sales of the BMW Group, which includes the brands Rolls Royce and MINI, increased by 8.4 percent to more than 2.52 million units in 2021, with the BMW brand setting a new sales record of 2.2 million units.

In China, the company's biggest single market, total vehicle sales increased by 8.9 percent year-on-year. With 846,237 BMW and MINI vehicles delivered, the group posted a new sales record in the country for the second year in a row.

In February this year, BMW increased its share in its joint venture with Brilliance China Automotive Holdings Ltd. (CBA) from 50 percent to 75 percent, further strengthening its partnership in the country.