China pushes BMW to record sales, earnings

Strong sales of its luxury cars in China helped luxury carmarker BMW overcome weak markets in Europe due to the debt and economic crisis there.

Net profit rose 16 per cent in the third quarter to 1.29 billion euro (US$1.65 billion). Sales jumped 13.7 per cent to a record 18.82 billion euros.

The company said on Tuesday it was sticking to its earnings forecasts for this year sales and earnings that are better than the previous year’s. Still, it warned of “an increasingly uncertain market environment”.

via Business feed http://www.scmp.com/business/companies/article/1076234/china-pushes-bmw-record-sales-earnings