BMW, the legendary car group, has more than tripled its net profit, posting a record result of 12.5 billion euros (13.8 billion USD) in 2021, the German carmaker announced Thursday, March 10.
BMW’s famous blue-and-white logo has managed to meet all its targets for the 2021 fiscal year, and the group’s revenue rose by 12.4% year-on-year to 111.239 billion euros. BMW also accelerated the electrification of its product line.
The BMW Group will pay out its sharply increased dividends at its annual general meeting in May, bringing its annual dividend payout to €3.827 billion, up from €1.253 billion the previous year.
The BMW Group’s sales figures are exceptional, with all brands in the group, which includes Rolls Royce and MINI, up 8.4 percent to more than 2.52 million units sold in 2021. In particular, the BMW brand set a new sales record, with 2.2 million units sold.
In fact, it is China, the company’s largest single market, whose total vehicle sales increased by 8.9% year-on-year. With 846,237 BMW and MINI vehicles delivered, the group set a new sales record in the country for the second consecutive year.
The BMW Group is so confident in the Chinese market that in February this year, BMW acquired a new stake in its joint venture with Brilliance China Automotive Holdings, increasing its share from 50 to 75 percent and further strengthening its partnership in the country.