BMW reports profit surge in first half of 2014

German car producer BMW Group reported profit surge in the second quarter and the first half of 2014 on Tuesday.

The Munich-based Group's revenues increased in the second quarter by 1.8 percent to reach 19.9 billion euros (26.6 billion dollars). And its net profit climbed 27.2 percent to 1.77 billion euros, according to the statistics released by BMW.

Meanwhile, the revenues for BMW in the first half year rose year-on-year by 2.8 percent to 38.14 billion euros, and the net profit increased by 19.6 percent to 3.23 billion euros.

The total number of BMW, MINI and Rolls-Royce brand cars delivered to customers worldwide increased by 5.3 percent to a new record of 533,187 units in the second quarter. The first-half year sales volume came to 1.02 million units, marking the first time that BMW have sold more than one million vehicles in a half year.

"The BMW Group increased sales volume, revenues and Group earnings in both the second quarter and the six-month reporting periods, continuing the successful development of our business," said Norbert Reithofer, chairman of the board of management.

"We are on track to achieve our targets for the full year," Reithofer said.

At the same time, Motorcycles' sales volume for the half-year period increased by 9.3 percent to 70,978 units, recording the best six-month period in its 90-year history of motorcycle manufacturing.