German luxury carmaker BMW said today its 2017 net profit soared 26 per cent to a record 8.7 billion euros (USD 10.7 billion), driven by strong demand for electrified vehicles and a tax bump from the United States.
The Munich-based group said deliveries of its electrified vehicles jumped 65.6 per cent to 103,080 units, as it plans to put half a million such cars on the road by the end of 2019.
The group, which also owns the Mini and Rolls-Royce brands, said automobile deliveries were up 4.1 per cent to 2.46 million vehicles, while revenues also rose a corresponding 4.8 per cent to 98.6 billion euros.
And the group is targeting another record year in 2019 as it eyes a further rise in deliveries in 2018.
"This year we are targeting another new sales record, with deliveries slightly up on the previous year," said Krueger.
But it warned that it "expects the political and economic environment to remain volatile".
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