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(Bloomberg) BMW AG reported better-than-expected first-quarter results after a broad car-sales rebound in all major regions, led by China.
(Bloomberg) BMW AG reported better-than-expected first-quarter results after a broad car-sales rebound in all major regions, led by China.
Earnings before interest and taxes from automaking operations surged to 2.24 billion euros ($2.7 billion) in the first three months, up from 229 million euros a year earlier, the Munich-based manufacturer said in a statement, citing preliminary figures. Profit also rose on firm vehicle pricing and high demand for used cars, BMW said.
âAll figures are indeed above my (and consensus) expectations,â Juergen Pieper, an analyst at Bankhaus Metzler, said Tuesday by email. âBMWâs key drivers are very good sales momentum, positive pricing like for most manufacturers and efficiency gains.â ....