BMW posts record net profit of 8.7 bn euros for 2017

Berlin (AFP) – German luxury carmaker BMW said Thursday its 2017 net profit soared 26 percent to a record 8.7 billion euros ($10.7 billion), driven by strong demand for electrified vehicles and a tax bump from the United States.

The group said deliveries of its electrified vehicles jumped 65.6 percent to 103,080, as it plans to put half a million such cars on the road by the end of 2019.