Mini boosts BMW to record profits

BMW's profits rose to a new record last year thanks to the Mini which helped the German car company buck tough market trends.



Net profit rose 8.3% to £1.37 billion.

Munich-based BMW, which also makes motorcycles, said it had won customers from rivals with a drive to develop and promote new models whose cost has alarmed some analysts.

Deliveries of the revamped Mini, launched in the summer of 2001, rose more than fourfold to 144,119.

World-wide sales of its 3-series models, which account for more well over half the sales of BMW-brand vehicles, rose 5.1% to 561,249.


Story filed: 15:46 Thursday 13th March 2003

 

My dealership still can't service MINIs on weekends, because they
"don't have enough qualified technicians". Pathetic.

They might be selling MINIs like hotcakes, but they obviously haven't ramped up their service capabilities to deal with it.

 

You're welcome, BMW. :smile:


-Jim

"Jack and Jill went up the hill each with a buck and a quarter; Jill came down with 2.50. Oh!"

 

(Insert Bart Simpson quote about saving FOX)

 

actually its kinda funny. After 911 a lot of industries took hits, but the car industry sorta saw the opposite. A lot of people realized how short life was and that maybe they should buy that car they had thier eye on, because you dont know what tommorow brings. As a result a lot of dealerships sold a lot of cars. :smile:

 

>>actually its kinda funny. After 911 a lot of industries took hits, but the car industry sorta saw the opposite. A lot of people realized how short life was and that maybe they should buy that car they had thier eye on, because you dont know what tommorow brings. As a result a lot of dealerships sold a lot of cars. :smile:

That's true in some cases. It was in mine with the MINI. But IMHO, most manufacturers were giving cars away immediately after 911. My Dad bought a newly released Camry model at significant savings with really low APR.

 

Well I think it was mostly high end cars, like the beamers.

 

>>actually its kinda funny. After 911 a lot of industries took hits, but the car industry sorta saw the opposite. A lot of people realized how short life was and that maybe they should buy that car they had thier eye on, because you dont know what tommorow brings. As a result a lot of dealerships sold a lot of cars. :smile:

Actually, right now most cars dealers are having trouble selling cars. It's nice to know that our favorite car isn't hurting hurting though.
-Chris

 

>>actually its kinda funny. After 911 a lot of industries took hits, but the car industry sorta saw the opposite. A lot of people realized how short life was and that maybe they should buy that car they had thier eye on, because you dont know what tommorow brings. As a result a lot of dealerships sold a lot of cars. :smile:

After you've been dead 100,000 years, it's nothing, absolutely nothing, compared to the eternity you're going to be dead....Motor Now!

 

>>Well I think it was mostly high end cars, like the beamers.

This is something peculiar, but traditional amongst BMW people: The cars are called, "bimmers." The motorcycles are called, "beemers." Nobody ever explained to me why the difference.

 

Another thing to note about increased car sales in the US. As prices fell for cars,
many americans their avg value of their homes rose in the double digts each year since 2000. Couple this with a fall in intrest rates, people can refinance their morgage, take some cash back, and do something with it like college educations, home improvements and automobile purchases.

I never thought I'd buy a BMW, too fancy, I said.... HA! :smile:

 

Right...and when the real estate market falls, hopefully they will have paid off enough of the car (and it's big enough) so that they can keep it and sleep in it when the bank takes their house. Sorry, I've just heard too many stories about people getting way too deep in the second mortgage/home equity thing...

 

I've never heard a beemer called a bimmer except in this forum.

 

>>This is something peculiar, but traditional amongst BMW people: The cars are called, "bimmers." The motorcycles are called, "beemers." Nobody ever explained to me why the difference.
>>
>>
I think the difference is a bimmer can be a bummer while
a beemer runs like a Timex. IMHO (R1100R just starting to
'break in' at 22,000 miles ) They should get some of
the beemer engineers to do training seminars for the bimmer
folks.