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BMW net profit rises despite Europe


August 01. 2013 4:13AM
Associated Press

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(AP) German luxury car maker BMW AG says it overcame tough auto markets in Europe and posted a 9 percent increase in net profit in the second quarter.


Profits rose to 1.39 billion euros from 1.28 billion in the same quarter a year ago as revenue swelled 1.8 percent to 19.5 billion euros.


The Munich-based company had profit margins of 9.6 percent, toward the upper end of its goal of 8-10 percent. Even so, the margin was down on last year's 11.6 percent.


BMW saw stronger sales in the first half of the year from its mainstay 3-series car and from its X1 small SUV. First-half sales were flat in Europe but rose in China and the United States.


Associated Press


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