BMW rebounding, posts $424M profit

BMW comes in with a rebounding $424 Million profit for the 1st quarter. Another sign that the auto market is in a steady uplift from the last 2 years as BMW sees 2010 earnings dynamically increases over the course of the year. One of the biggest stories for BMW was that China sales doubles in the quarter as the beat goes on in China.

From Detroit

German luxury automaker BMW AG reported a $424 million first-quarter profit on Wednesday, reflecting a recovery in demand for premium cars from last year’s deep slump.

BMW said it expected the launch of its key 5 Series sedan during the second quarter to help it gain further momentum.

“We expect that earnings will grow dynamically over the course of the year,” said Chief Executive Norbert Reithofer.

“We intend to remain the world’s leading provider of premium cars in 2010,” he said in a statement. The Munich-based company sells premium cars under the BMW, Rolls-Royce and Mini brands.

Read the full article here.

Photo from fOTOGLIF


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