BMW Group sales grow over the month and first half, RR are down awaiting the new Phantom.

• BMW Group sales in first half-year up 5.0% to 1,220,819
• Electrified vehicles sales increase 80% to 42,573
• BMW Group delivers 232,620 vehicles in June, up 2.1%
• BMW sales increase 2.0%, totalling 192,873
• MINI sales grow 3.0% to 39,443
• Market launch of MINI Countryman PHEV grows electrified range to nine models

BMW Group sales achieved their best ever June, with sales in the month totalling 232,620, a 2.1% increase year-on-year. It was also a record first half-year with sales of the BMW Group’s three premium brands, BMW, MINI and Rolls-Royce, increasing by 5.0%; a total of 1,220,819 vehicles have been delivered to customers around the world so far this year.

“June rounds off our best ever first half-year and the BMW Group remains the world’s leading premium car company,” commented Dr Ian Robertson, Member of the BMW AG Board of Management with responsibility for Sales and Brand BMW. 

“We’ve already sold more than a million BMW vehicles this year, which is a new first-half-year record. June also saw our successful electrification strategy expand still further to include the MINI brand, meaning customers can now choose from nine electrified BMW Group vehicles. 

With sales of these models up by eighty per cent compared with the first half of last year, we’re looking forward to celebrating delivery of the 200,000th electrified BMW Group vehicle later this year,” he continued.

The BMW brand achieved its best-ever first half-year, topping the million mark for the first time ever by this point in the year. Global BMW sales totalled 1,038,030 units, an increase of 5.2% on the same period last year. Sales of BMW brand vehicles in June totalled 192,873, up 2.0% compared with the same month last year. A wide range of models throughout the range contributed to this growth. Sales of the BMW X1 increased 45.2% (136,748) in the first half-year while deliveries of the BMW X5 increased by 10.6% (89,958). BMW 1 Series sales grew by 6.5% (91,802) in the first half-year, while deliveries of the flagship BMW 7 Series increased during the same period by 26.9% (32,290).

June saw the arrival of the MINI Cooper S E Countryman ALL4 in the dealerships, the ninth electrified vehicle from the BMW Group which is available to purchase today. The popularity of the BMW Group’s innovative premium electrified vehiclescontinues to grow at a rapid rate: in the first six months of the year, a total of 42,573 BMW i, BMW iPerformance and MINI Electric vehicles were delivered to customers, an increase of 79.8% on the same period last year. First-half-year production of electrified vehicles totalled 51,725. The BMW Group is well on track to achieve its target of selling 100,000 electrified vehicles in 2017.

Sales of MINI brand vehicles achieved a new record for June with 39,443 units delivered to customers around the world, an increase of 3.0% compared with the same month last year. June rounded off the brand’s record first half year, with sales totalling 181,214 (+3.6%). “MINI continues to achieve sustainable growth in sales around the world,” said Peter Schwarzenbauer, Member of the BMW AG Board of Management responsible for MINI, Rolls-Royce and BMW Motorrad. “Sales of the new MINI Countryman are particularly pleasing and I’m delighted that with the launch in June of the MINI Cooper S E Countryman ALL4, electric mobility is now available on a large scale from the MINI brand. Customer interest in this car has been extremely high and I’m confident we will see continued growth across the brand in the second half of the year,” he added.

In the first half of 2017, the Goodwood-based Rolls-Royce brand delivered 1,575 (-6.5%) motor cars to customers. The same period in 2016 was particularly strong due to the popularity of the newly introduced Rolls-Royce Dawn. This base effect, and the absence from the market of the Phantom pending the introduction of the new Phantom later this year, account for the decrease in sales year-on-year. Despite considerable ongoing headwinds in the luxury sector in several regions, Rolls-Royce continues to strive for long-term sustainable growth.

BMW Motorrad achieved its best-ever June with a total of 17,260 motorcycles and maxi-scooters delivered to customers, an increase of 15.1% on the same month last year.

Those figures helped BMW Motorrad achieve a record first half-year with sales totalling 88,389 in the first six months of the year, up 9.5% on the same period last year.

BMW & MINI sales in the regions/markets at a glance

With the automotive market experiencing challenges in several significant markets, the BMW Group continues to follow its policy of balancing sales around the world to achieve sustainable, profitable growth.

Europe is the BMW Group’s most significant sales area and despite recent downturns in the region’s two largest markets, Germany and the UK, overall BMW Group sales for the first half of 2017 are up 2.2%.

BMW Group sales in Asia continue to achieve significant growth this year, driven mainly by China, where combined BMW and MINI deliveries are up 18.4% in the first half-year.

This strong increase is largely due to full availability of the BMW X1 and the popularity of the new BMW 1 Series sedan, a car designed exclusively for China.

BMW and MINI sales in the Americas continue to be affected by the decline in the overall automotive market in the USA. Meanwhile sales in other markets in the region maintain their positive growth, with BMW Group deliveries in Mexico and Latin America achieving a further double-digit increase.

Groupe Renault moves forward with a massive increase in group revenues helped by a 10% growth in sales Units.

• Group revenues totaled €13,129 million in first quarter 2017 (€12,560 million excluding AVTOVAZ). The 25.2% increase (19.7% excluding AVTOVAZ) resulted primarily from an increase in the Group’s brand volume and sales to partners.
• First quarter sales rose by 15.8% to 873,678 vehicles (at constant scope, including Lada) in a market that grew 4%.
• Sales volumes and market share increased in all regions. The Renault and Dacia brands set new sales records for a first quarter.
• In Europe, Group registrations rose 10% in a market up 8%, driven by new models and the confirmation of the good results of Kadjar, Clio 4, Captur and Duster. 
• UK is Groupe Renault’s fifth biggest market globally in Q1 2017
• Outside Europe, the Group posted a 100% increase in sales in Asia-Pacific and a 31% increase in the Africa-Middle East-India Region.
• The Group is confirming its guidance for the year.

Sales Results: first quarter highlights

Groupe Renault (including Lada) worldwide registrations (Passenger Car + LCV) increased by 15.8% in a market up 4%. The Group’s share of the world market now stands at 3.8%, up 0.4 points on 2016. The Renault and Dacia brands set new sales records for a first quarter. Renault Samsung Motors sales increased by 56.3% and those of Lada by 7%.

In Europe, the Group’s share of the PC + LCV market increased 0.2 points to 10.1%. Sales grew 10% to 478,706 vehicles. 

The Renault brand continued to progress, with a 10.1% rise in registrations. Market share came out at 7.7%, up 0.1 points. Renault notably benefited from the complete renewal in 2016 of the Megane family car line-up. 

Electric vehicle sales increased by 46% to nearly 10,000 units (excluding Twizy) thanks to the success of New ZOE with an official range of 250 miles (NEDC). Sales of ZOE rose 57% and reinforced the Group’s leadership with a 28% share of the electric vehicle market. 

The Dacia brand posted a sales record for a first quarter with 112,457 registrations and a 2.4% share of the market. This 9.5% growth resulted from the performance of New Sandero – the facelifted model launched in late 2016.

In France, Groupe Renault benefited from the growth of the market with a 5.6% increase in registrations. The Group placed five vehicles in the top ten best-selling passenger cars (including the top-seller, Clio) and occupied the top four positions in the LCV top ten. The Dacia brand was buoyed by the success of Sandero (the leader in sales to retail customers).

In the UK, Groupe Renault has experienced unprecedented growth over the last five years. This growth has continued in 2017 with 39,498 Groupe Renault vehicles being sold in Q1 – up 3.8% on Q1 2016. The UK is Groupe Renault’s fifth biggest market worldwide.

Outside Europe, all the Regions increased their sales volumes and market share.

Groupe Renault strengthened its positions with the success of its range: Kwid in India, QM6 and SM6 in South Korea, Kaptur in Russia, Koleos in China, Megane Sedan in Turkey, and Captur in the Americas.

In Africa-Middle East-India, Group registrations rose 30.9% for a market share of 6% (up 1.4 points).

Sales in Iran rose sharply (up 161.5%) for a market share of 9%, up 4.9 points, thanks to the success of Tondar and Sandero.

In India, Renault continued to rank as the number-one European brand with a 3.6% share of the market and a 9.9% increase in sales. Kwid registrations reached nearly 27,000.

In North Africa, the Group took a 41.5% share of the market, up 8.3 points with a 13.4% increase in sales.

In Eurasia, registrations increased by 6.3% in a market down 0.5%. The market share of Groupe Renault, now including the Lada brand, rose 1.5 points to 24.1%, notably thanks to a strong momentum in Russia.

In a Russian market that grew slightly (+1%) for the first time in four years, the Group increased its sales by 9.2% (including Lada).

The Renault brand took a 8.1% share of the market, up 0.8 points. Registrations of Kaptur, launched in June 2016, came to over 6,000 for the quarter.

Lada sales volumes rose 8% for a market share of 19.1% (up 1.2 points) thanks to the success of the new Vesta and Xray models. 

With the consolidation of Lada sales volumes, Russia has become the Group’s number-two market.

In Turkey, sales increased 0.8% in a market down 7.4%. The Group posted a 19% share of the market, up 1.5 points. New Mégane Sedan, awarded “Car of the Year”, is off to a successful start with over 6,500 registrations.

In the Asia-Pacific Region, registrations were up 99.7% in a market up 4.6%. 

In China, Renault sold nearly 18,000 vehicles (compared with 3,400 in first-quarter 2016), including 10,000 New Koleos, launched at end-2016 and produced locally at a new plant in Wuhan.

Renault Samsung Motors posted a growth of 56.4% in a South Korean market up 0.9%, for a market share of 6.2%, up 2.2 points, driven by the success of the latest product launches (SM6 and QM6).

In the Americas region, sales increased 19% in a market up 9%, for a market share of 6.3%, up 0.5 points. The success of Sandero, Logan and Duster Oroch models was confirmed.

Groupe Renault continue to take full advantage of the recovery in the Argentinean market, with an 87.2% increase in registrations in a market up 42.8%. Market share rose by 3.1 points to 13.1%. Renault is fully benefitting from the local production of Sandero and Logan since end-2016. The market in Brazil has stabilized (down 1.2%) and the Group maintained its market share at 6.8%.

First quarter revenues by operating sector

Group revenues came to €13,129 million in first quarter 2017, up 25.2%. Excluding the impact of the consolidation of AVTOVAZ, Group revenues increased by 19.7% to €12,560 million (up 18.4% at constant exchange rates).

Automotive excluding AVTOVAZ revenues totaled €11,939 million, up 20.1%, mainly thanks to growth in sales volumes (up 9.2 points). The increase in sales to partners contributed 3.5 points to this growth. The performance reflects the strong momentum in our CKD1 activity in Iran and China and in the sales of vehicles assembled in Europe (notably with the start of Nissan Micra production). The price effect (+2.4 points) benefited primarily from recent launches. The currency effect was positive at 1.3 points, mainly owing to the strengthening of the Russian ruble and Brazilian real, despite the negative impact of the British pound.

Sales Financing (RCI Banque) posted revenues of €621 million in the first quarter, up 13.5% on 2016. The number of new financing contracts increased by 21.4%. Average performing assets rose 21.9% to €37.9 billion. 

Outlook for 2017

In 2017, the global market is expected to a record growth of 1.5% to 2.5% (versus 1.5% to 2% previously). The European market is still expected to increase by 2% this year, as is the French market. 

Outside Europe, the Russian market might increase by up to 5% (versus stable previously), whereas the Brazilian market should remain stable. China (+5%) and India (+8%) are expected to continue their growth momentum. 

With this context, and following the consolidation of AVTOVAZ, Groupe Renault is confirming its guidance:

• increase Group revenues, beyond the impact of AVTOVAZ (at constant exchange rates)*,
• increase Group operating profit in euros*,
• generate a positive automotive operational free cash flow.

* compared with 2016 Groupe Renault published results

Groupe Renault consolidated revenues

(€ million)	2017	2016	Change
			2017/2016
Q1
Automotive excluding AVTOVAZ	11,939	9,942	+20.1%
Sales Financing	621	547	+13.5%
AVTOVAZ	750	-	-
AVTOVAZ eliminations	-181	-	-
Total	13,129	10,489	+25.2%
Excluding the impact of AVTOVAZ consolidation	12,560	10,489	+19.7%

1CKD: Complete Knock Down

USA SALES SECOND QUARTER - BMW posts sales volumes and earnings at record levels.

• Second quarter: sales volume and earnings at record levels
• Sustainable profitability: 25th consecutive quarter to achieve automotive segment EBIT margin within target range of between 8 and 10% or higher
• BMW Group reaffirms outlook for full year 2016
• Strong demand for BMW i and BMW iPerformance models
• Cooperation with Intel and Mobileye underlines drive to lead the field of automated driving

The BMW Group continued its course of profitable growth during the second quarter of 2016, whilst also taking important decisions for the future in line with its Strategy Number ONE > NEXT. 

As the world’s leading provider of premium products and services for individual mobility, the BMW Group recorded its best ever quarterly sales volume and net profit figures between April and June. 

The partnership with Intel and Mobileye underlines the BMW Group’s ambition to play a leading role in developing safe and reliable automated driving.

“We sold more vehicles in the second quarter than ever before and achieved record earnings. We are growing profitably while simultaneously implementing our strategy step by step,” stated Harald Krüger, Chairman of the Board of Management of BMW AG, on Tuesday. “Sustainable profitability on this scale provides us with the financial headroom we need to pursue our work on future technologies such as electric mobility and automated driving. For me, there is no “either/or” between the present and the future. The strength of today’s core business is the cornerstone for tomorrow’s success.”

Second-quarter sales volume of the BMW Group’s three premium brands (BMW, MINI and Rolls-Royce) climbed by 5.7% to 605,534 units (2015: 573,079 units), thereby marking a new high for a quarter. Once again, the BMW Group was the world’s leading manufacturer of premium vehicles.

Second-quarter revenues rose by 4.5% to € 25,014 million (2015: € 23,935 million). At € 2,725 million, profit before financial result (EBIT) was 7.9% higher than one year earlier (2015: € 2,525 million). Group profit before tax (EBT) increased by 8.4% to a new high level of € 2,798 million (2015: € 2,582 million). Group net profit rose by 11.4% to € 1,949 million (2015: € 1,749 million), also marking a new record for a second quarter.

Ferrari announces its final end of year results and sales and profits are all up, and looking good for the coming year.

• Total shipments reached 2,214 units, up 8% (+155 units)
• Net revenues grew 5.9% (+6.2% at constant currencies) to Euro 811 million
• Adjusted EBIT⁽¹⁾ of Euro 156 million, 310 bps margin increase
• Adjusted net profit⁽¹⁾ up 35% to Euro 104 million
• Net industrial debt^([1]) at Euro 763 million, better than March 2016

Adjusted EBIT(1)	Net profit
Volume increase of approx. 230 cars (excluding LaFerrari) thanks to the newly launched 488 GTB, 488 Spider, F12tdf and positive contribution from personalization	Net profit for Q2 was Euro 97 million up Euro 21 million (+29%) due to the combined effect of strong EBIT and lower tax rate vs. previous year partially offset by charges for Takata airbag inflator recalls
Negative mix impacted by LaFerrari, that finished its limited series run, and V8, slightly higher compared to the previous year, partially offset by the non-registered car FXX K and limited edition F60 America
Net industrial debt(1)	Confirming 2016 Outlook([2])
Net industrial debt(1) reduced to Euro 763 million, primarily due to strong industrial free cash flow(1)generation partially offset by cash distribution to holders of common shares and dividends paid to NCI	The Group guidance is confirmed as follows: Shipments: ~8,000 units including supercars Net revenues: > Euro 3 billion Adjusted EBITDA: ≥ Euro 800 million Net industrial debt([3]): ≤ Euro 730 million

Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results^([4]) for the second quarter and six months ended June 30, 2016.

Shipments

Shipments totaled 2,214 units in Q2 2016, up 8% from the previous year. 

This performance was driven by a 16% increase in sales of our 8 cylinder models (V8), led by the success of the two newly launched models: the 488 GTB and the 488 Spider. Shipments of the 12 cylinder models (V12) were down 22% due to the phase-out of the FF, the F12berlinetta now in its 5^th year of commercialization and LaFerrari that finished its limited series run. This was partially offset by the introduction of the new F12tdf.

The EMEA^([5]) and Greater China⁽⁵⁾ regions experienced a sound year-on-year growth with shipments increasing respectively by +14% and +26%, Americas⁽⁵⁾ recorded a slight  improvement whereas Rest of APAC⁽⁵⁾ remained in line with the previous year due to 488 Spider and F12tdf having just arrived on the market.

Total net revenues

Net revenues for Q2 2016 were Euro 811 million, an increase of Euro 45 million or 5.9% (+6.2% at constant currencies) from Q2 2015. Higher net revenues in Cars and spare parts⁽⁶⁾ (Euro 589 million, +2%) were due to increased volumes led by new models 488 GTB, 488 Spider,F12tdf, the non-registered car FXX K and the final deliveries of the F60 America, a strictly limited edition car, along with a higher contribution from personalization, which was partially offset by lower sales of LaFerrari. The rebound in Engines⁽⁷⁾ (Euro 71 million, +24%), was mainly attributable to higher rental revenues from other Formula 1 Teams. Sponsorship, commercial and brand⁽⁸⁾(Euro 117 million, +14%) was up mostly due to better championship ranking, higher sponsorship revenues and positive contribution from brand related activities.

Adjusted EBITDA⁽¹⁾ and Adjusted EBIT⁽¹⁾

Adjusted EBIT⁽¹⁾ was Euro 156 million, up Euro 32 million (+26%) from Q2 2015 as a result of higher volumes, thanks to the newly launched 488 GTB, 488 Spider and the F12tdf as well as a positive margin contribution from our personalization programs. Mix was negatively impacted (Euro 25 million) by higher V8 versus V12 range models with LaFerrari that finished its limited series run, partially offset by the non-registered car FXX K and the final deliveries of the F60 America, a strictly limited edition car (only ten units) manufactured to commemorate the 60^th Anniversary of Ferrari in North America. Research and development costs and industrial costs showed a decrease of Euro 11 million mainly due to lower D&A for the 458 family and LaFerrari phase-out coupled with efficiencies on production costs partially offset by F1 costs. The Selling, general and administrative costs^([10])were substantially in line with the previous year as the combined result of new store openings, new model launches and corporate costs offset by bad debt in Q2 2015. Other recorded a positive contribution of Euro 14 million thanks to Sponsorship, commercial and brand as well as other supporting activities.

Adjusted EBIT⁽¹⁾ excludes charges of Euro 10 million due to the worldwide Takata airbag inflator recalls^([11]).

Tax rate dropped to 30.7% in Q2 2016 vs. 33.5% in Q2 2015 as a result of the Italian Government’s decision to reduce the nominal tax rate from 27.5% to 24% by 2017.

As a result of the items described above, adjusted net profit⁽¹⁾ for Q2 2016 was Euro 104 million, up Euro 26 million (+35%).

Industrial free cash flow⁽¹⁾ for the three months ended June 30, 2016 was Euro 145 million, primarily driven by a strong increase in cash flow from operating activities, including a positive change of working capital and timing effect of advances on the new open-top LaFerrari, partially offset by capex and the first 2016 tax advance. Q2 2015 industrial free cash flow⁽¹⁾ included a Euro 116 million one-time cash in-flow related to the final reimbursement by Maserati of its inventory in China.

Net industrial debt⁽¹⁾ at June 30, 2016 was Euro 763 million, better than from Euro 782 million at March 31, 2016, thanks to industrial free cash flow⁽¹⁾ generation offset by cash distribution for Euro 87 million paid to the holders of common shares and Euro 13 million dividends paid to NCI.

The open-top LaFerrari: the new special limited-edition series

On July 5^th, 2016 Ferrari unveiled the first images of the open-top LaFerrari, the new limited-edition special series. The new model, already pre-sold, will be presented during the Paris International Motor Show in October 2016. The open-top LaFerrari will be provided with a removable carbon-fiber hard top and a removable soft top aimed at customers and collectors who refuse to compromise on the joy of plein air driving even when at the wheel of a supercar.

Subsequent Events

On July 7^th, 2016 Ferrari with Luxottica Group announced the signing of a sponsorship agreement for the Ray-Ban brand to appear on the SF16-H Formula One cars.