Bayerische Motoren Werke AG’s share price down, posts record car sales due to rising demand in China and the U.S.

Bayerische Motoren Werke AG made an official statement on Tuesday, revealing that it managed to sell more cars than ever before in the first half of the year, mainly because of strong demand in China.

BMW Group sold 1.02 million vehicles under the brands BMW, Mini and Rolls-Royce globally, which is 6.9% more than in the first half of last year. In June, the companys sales rose by 4.8% to 193 342 units. The increase came mainly from China, where they sold 23 percent more cars in the period. In the U.S., sales increased by 5.1%.

The figures surpassed the sales of Bayerische Motoren Werke AGs main competitors – Mercedes-Benz and Audi.

Mr. Ian Robertson, who is a member of the Board of Management, Sales and Marketing commented on the performance of BMW AG in a statement, which was cited by Yahoo Finance: “This is the first time weve sold more than a million cars in the first half of the year and underscores the strength of our premium brands within the BMW Group. June is the latest in a long line of record months and the figures confirm were on the right track to achieve our target of delivering more than 2 million vehicles in 2014. We aim to continue our sales growth in the second half of the year, when exciting new vehicles like the BMW X4 and BMW 2 Series Active Tourer will come onto the market.”

Bayerische Motoren Werke AG was losing 0.3% to trade at 93.63 euros per share by 12:54 GMT, marking a one year change of +37.89%. According to the information published on the Financial Times, the 31 analysts offering 12-month price targets for Bayerische Motoren Werke AG have a median target of 100.00, with a high estimate of 121.80 and a low estimate of 79.00. The median estimate represents a 6.48% increase from the last price of 93.91.