China and US boost BMW profits
Car giant BMW said today that net profit increased 18% to €1.35bn in the first quarter over the same period last year, boosted by stronger sales in the US and China.
Revenue rose 14% to €18.29bn.
Demand was flat in the company’s home markets in Europe where there is a debt crisis and slow economy.
The company said sales jumped 36% in China, where BMW sold more cars than it did in the key US market. US sales rose 16%.
Top sales performers were the new X3, the larger X5 and the 7-series executive saloon.
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