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Net profit rises 11 percent as improvement in Europe adds to strong Asia sales
Reported by: Associated Press
Reported: Tuesday, May 6, 2014 3:16 AM EDT
Luxury automaker BMW AG says its net profit rose by 11 percent in the first quarter, as Europe's battered car market finally showed signs of recovery.
The company credited strong sales from its mainstay 3 Series and 5 Series, as well as its redone X5 sport-utility made in Spartanburg, South Carolina. China sales for the group rose 25 percent.
Munich-based BMW said Tuesday that US sales were held back by cold and stormy weather, but should recover quickly.