BMW sales boosted by strong Chinese demand
From BBC:
BMW’s third quarter profits have risen 11-fold as it continues to benefit from a big increase in sales in China.
The German carmaker made a net profit of 874m euros ($1.2bn; £765m) in the three months to the end of September, up from just 78m euros a year earlier.
Its revenues rose 36% to 15.9bn euros, as global quarterly sales of its BMW, Rolls-Royce and Mini cars increased by 13% to 366,190 vehicles.
BMW said its Chinese sales almost doubled compared with a year earlier.
Its sales across mainland China, Hong Kong and Taiwan were 91% higher.
Sales in Western Europe added 1.8%, while those in the UK gained 13%.
In the US BMW saw quarterly sales advance by 9%.
BMW did not release a specific figure for India, only saying that the wider Indian car market had grown by 30% so far this year.
It added that its global profits had also been helped by higher retail prices.
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Sometimes I feel Germany is the ONLY country that gets all the wealth in these days. The US is buying a lot of Chinese goods, then China is buying a lot of German luxury items. What will the Germans buy? Very interesting question… Can any German friends give me the answer?
The german people have right now no money to buy something.
Maybe their money is only enough to buy bavarian Gammelfleisch.
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