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BMW reported 4 times increase of the profit

The Munich-based automobile concern BMW has managed to increase almost four times its profit for the first quarter and thus vulnerable to competition in the high price segment of the Mercedes and Audi. The company is the last major German manufacturer, who presented his results for the first three months of the year. Data show that they were most successful for her as well as its competitors in developing countries and the already established markets like the U.S. and Europe. Furthermore, the Group has managed to sell more limousines and vans, which is the reason for the increase in operating margin of 11.9%. The same indicator for Mercedes is 9.3 percent and for Audi - 10,6%.
"BMW Group started the year strongly", said in the presentation of data CEO Norbert Reithofer. "We achieved record profits and sold more cars per quarter than it was."
The sales of the main brand BMW are up 21% to 321,175 vehicles, thus the concern ahead of Audi and Mercedes. Not see an end to this upward trend - the U.S., the most important export market, the Bavarians have sold considerably more cars than its German competitors in the high segment.
In the first quarter rose BMW profit of 1.2 billion EUR to 324 million EUR for the same period in 2010 and also significantly outperformed analysts' expectations. For this year, BMW's goal is to sell more than 1.5 million cars and thus, all major German automakers, to achieve record sales. The high prices of petrol and diesel, and natural disaster in Japan have not yet affected the results of the German auto-concerns. Daimler and Audi doubled its profits in the first quarter, and VW tripled them. The good results echoed the BMW and Exchange: shares of BWM Exchange in Frankfurt rose by 2% and reached a price of 64.73 EUR.