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BMW Profits Surge Nearly Fourfold

Increase largely driven by China.

by on May.04, 2011

BMW is hoping the upcoming launch of its 6-Series line will keep its momentum going.

Driven largely by booming sales in China, BMW saw its first-quarter profits jump nearly fourfold, the maker announced today.

Net earnings of 1.21 billion Euros, or $1.79 billion, compared favorably to the 324 million profit the Bavarian maker reported a year ago.  Sales, meanwhile, jumped 29%, to 16.04 billion Euros.

The news followed Tuesday’s report that BMW had scored another big jump in sales in the U.S. market during April, strongly driven by its Mini brand.

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But the German manufacturer has also become a potent powerhouse in Asia, where volumes soared 53% during the first quarter, with Chinese sales rising a full 72%, well ahead of that booming market’s overall increase.