BMW yesterday reported a first-quarter operating profit that exceeded its 2009 full-year earnings as the German automaker's sales were lifted by soaring demand for luxury cars in China.
The world's largest premium carmaker said it swung to a profit before interest and tax of €449m ($577m) in the first three months – more than the €289m achieved in the whole of 2009 and following a €55m loss in the first quarter of last year.
The higher than expected profit underscored the rapid rebound in global demand for premium cars, led by emerging markets.
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