China and US boost BMW profits

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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