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Follow on Google News | BMW, owner of Rolls Royce and Mini, see profits surge on record salesWert-Berater, Inc. is a provider of economic studies, feasibility studies, market studies, and more for global manufacturers and developers. Reach us at 1-888-661-4449, and visit our website at www.wert-berater.com
By: Wert-Berater, Inc. The luxury carmaker, which owns the Mini and Rolls-Royce brands, reported net profits of 1.2bn euros ($1.8bn; £1.01bn), up from 324m euros a year ago. The company said it had sold a record number of cars for the first quarter. The number of Rolls-Royce cars sold doubled, while Mini sales jumped 23%. In total, the number of BMW, Mini and Rolls-Royce vehicles sold worldwide rose more than a fifth to 382,758. Record sales "The BMW Group is well on its way towards achieving new sales volume and earnings records for the full year," said Norbert Reithofer, BMW's chairman. "We are aiming for a record sales volume of well over 1.5 million vehicles as well as new full-year sales volume records for each of our premium brands BMW, Mini and Rolls-Royce." The BMW group said it recorded growth in almost all regions, signalling continued improvement in the global economy. Total vehicle sales in China leapt 72% on the previous year to 58,706 units, while sales in the United States grew 18% to 65,163. The company also saw significant growth in Europe, where sales were up 13%. Optimism BMW said it expected to achieve higher full-year group profits than in 2010, when it made record profits of 3.23bn euros. However the firm issued a word of caution saying the political uncertainty in the Middle East and North Africa, the repercussions of the Japan earthquake and sovereign debt crises "make the situation more volatile for the time being". "Is it sustainable? "Currency, Chinese localisation and the US-EU mix may become bigger issues in future years but for now, BMW looks in a very, very good place," he said. Source: BBC Online # # # Wert-Berater, Inc. is a diversified consulting firm providing services to its clients on a global basis. Our business is centered upon feasibility studies, highest and best use studies, and market studies in a broad range of industries, including energy, development, commercial real estate, agriculture, and finance. Our staff includes over 600 professionals through our alliance partnerships. In-house and alliance disciplines range from architectural, civil, hard infrastructure, electrical and mechanical engineering, ecology and environmental professionals, economists, and financial analysts. End
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