BMW: Volume up but revenue down
14/03/2014
Despite this, the car manufacturer declared that it had met all its targets and had achieved a fourth straight record year.
"In 2013 we achieved new highs for sales volume and profit and have thereby reached the targets we set ourselves for the full year,” said chairman Norbert Reithofer.
Group revenues for 2013 totalled €76.058 billion, 1% lower than in 2012, while profits increased by 1.4% to a high of €7.9 billion.
The BMW brand sales rose 7.5% in volume to 1,655,138 units while Rolls-Royce set a record in terms of volume with 3,630 units sold.
The group also cited an increase in wages as it increased headcount and "competition" as reasons for the lower revenues.
Pictured: BMW chairman Norbert Reithofer next to the BMW 6 Series Gran Coupé
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