Investing.com -- Building on the strongest three quarters sales period in company history, the BMW Group said Wednesday that revenues grew steadily in October amid strong monthly performances from its BMW, Mini and Rolls-Royce (L:RR) brands.
For the month, the company sold more than 191,650 vehicles, representing an increase of 4.0% from the same period in 2014. On an annual basis, sales of BMW Group vehicles for the first 10 months of 2015 are up by 7.1% from the previous year. Bolstered by strong demand with its BMW 2 Series, BMW increased sales by 6.4% in October after selling nearly 165,000 vehicles. Sales of the BMW X vehicle, meanwhile, continued to be the top driver for company revenue growth after X3 and X5 sales each surged by more than 7% on the month.
"Our sales continue to grow steadily in all regions of the world, despite ongoing volatility in some markets," said Ian Robertson, Member of the Board of Management of BMW AG, Sales and Marketing BMW. "Sales of our trend-setting BMW X models are showing particularly good growth in a competitive environment and the new BMW X1 is in extremely high demand. Customers around the world are responding very positively to the new BMW 7 Series, which has also just arrived in the showrooms, so we are expecting to see additional momentum going towards the end of the year."
Over the first 10 months of 2015, the company also said Mini sales have jumped more than 15% to 272,819. Sales for the Mini 5 door, which made its debut last September, nearly quadrupled last month compared to its monthly sales in October, 2014.
In September, BMW denied that it equipped its vehicles with software to evade emissions testing following accusations against Volkswagen (DE:VOWG) that led to the resignation of former CEO Martin Winterkorn. Volkswagen could owe up to $86 billion in penalties to settle charges from the U.S. Environmental Protection Agency that it cheated on its emission testing.
Shares in BMW gained 0.25 or 0.26 on Wednesday to close at 96.18.