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BMW Q2 results beat consensus thanks to demand for offroaders

The BMW X1
BMW
The BMW X1

BMW's second-quarter operating profit beat expectations thanks to record sales of luxury cars including the X1 offroader and the new 7 series.

Earnings before interest and taxes (EBIT) rose 7.9 percent to 2.73 billion euros ($3.05 billion), above consensus for 2.65 billion euros in a Reuters poll.

The return on sales at BMW's automotive division rose to 9.5 percent from 8.4 percent a year earlier, the company said on Tuesday, the 25th consecutive quarter automotive profits have been within its target range of between 8 percent and 10 percent.