BMW’s earnings accelerated past analysts’ forecasts in the first quarter as Asian demand and sales of sport utility vehicles kept the carmaker ahead of its German rivals in the premium segment.
Earnings before interest and taxation rose 19 per cent to €2.1bn, well in excess of a €1.8bn forecast compiled by Reuters from car sector analysts.
The result came in spite of flat car sales and pricing pressure in Europe. In Italy sales declined 11 per cent and in Spain 3 per cent. In contrast, BMW’s US sales rose 17 per cent, Chinese sales jumped 37 per cent and Japanese sales leapt 44 per cent.
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