Sunday, May 11, 2014 8:35:47 PM
BMW reported that strong sales in China helped boost its first-quarter profit by 11% from a year earlier and secured its position as the world's leading premium-car maker.
Mercedes-Benz in the global market for luxury cars is heating up. First-quarter earnings from the major German auto makers show that China is the proving ground that could decide the winner.
Total revenue, including its Mini and Rolls Royce brands, rose 4% to €18 Billion. Sales of BMW brand cars rose 12% to 428,259 vehicles in the quarter, with sales in China surging 25% and accounting for a quarter of its total. BMW volumes in the U.S. and Europe were each up just 3%.
B!
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