BMW shares were up 1% this morning after the group unveiled record annual sales across both its BMW and Mini branded ranges.
The figures marked the seventh consecutive year of record car sales, with BMW reporting a 4.1% rise for the 2017 calendar year to 2.47 million.
However, the result appeared to show BMW was trailing Mercedes-Benz in the growth stakes, with the latter last week reporting a 9.9% increase in annual sales to 2.29 million.
Sales across the core BMW brand rose 4.2% to 2.09 million, with BMW X SUVs jumping by 9.6%, despite limited availability of its X3 model due to the next generation version being introduced in November.
Sales of the BMW 5 Series limousine, which underwent a model change in 2017, leapt by an impressive 55.2% in the month of December, notching up growth of 6.3% over the calendar year.
The company also modestly exceeded its annual target to sell over 100,000 electric vehicles in 2017. BMW sold 103,080 electric cars, a 65.6% increase.
“We have continued to increase sales despite headwinds in some major markets and model-changeovers of several of our most significant vehicles,” said Ian Robertson, the BMW board member responsible for sales and brand.
Figures released last week showed Mercedes-Benz had retained its No.1 ranking as the best-selling luxury car maker in the all-important US market. BMW was in second place, while Lexus was in third.
Mercedes-Benz held on to the No. 1 spot as the best-selling luxury automaker in the US, according to 2017 auto sales data.
However, this could all change over the coming years, with BMW potentially taking the top spot, particularly as the Munich-based car marker looks to improve its offering in the SUV segment.
BMW´s new luxury X2 SUV will go on sale in the spring.