A Good Start to the Year for BMW
06/05/2010
BMW have reported a net profit of 324m euros ($420m; £277m) for the first three months of the year, against a loss of 152m euros the year before.
Sales came in at 12.4bn euros, up 8% on the 11.5bn euros the firm reported for the first quarter of 2009.
The company sold twice as many cars in China as it did a year earlier.
BMW chairman Norbert Reithofer has said, "We increased earnings significantly in the first quarter and are now back on a growth course on almost all car markets."
He said the group was aiming to achieve "significantly" higher earnings in 2010 than in 2009.
To achieve this, Mr Reithofer said BMW aimed to sell 1.3 million cars this year.
BMW launched the new 5-series earlier this year, a model that it hopes will boost revenue and help the company hold on to its position as the world's biggest selling luxury carmaker in the face of increasing competition from Audi and Mercedes.
Historically, the 5-series has contributed a significant proportion of BMW's overall sales.