First Quarter Profit for BMW Rises to $1.79 billion With 72% Increased sales in China

BMW Enjoys 400% Increased sales in China

FRANKFURT, Germany -- German luxury carmaker BMW says first-quarter net profit rose almost fourfold to euro1.21 billion ($1.79 billion) as sales climbed all around the world, but particularly in China.

Profits were up from last year's euro324 million. Revenues grew 29 percent to euro16.04 billion.

BMW, which includes the Mini and Rolls-Royce ( RYCEY.PK - news - people ) brands, saw especially big sales increases in Asia, where it sold 53 percent more cars, including a 72 percent jump in China.

Wednesday's results confirmed a strong quarter for Germany's export-oriented carmakers, whose luxury products are selling strongly in China's booming economy. First-quarter earnings for Daimler AG, maker of Mercedes-Benz cars, nearly doubled to euro1.18 billion and Volkswagen AG ( VLKAF.PK - news - people ), maker of the Audi luxury brand, saw profits more than triple to euro1.7 billion.

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