BERLIN: BMW beat expectations with a 20 percent increase in third-quarter net profit from a year earlier, as the German luxury automaker maintained rich profit margins despite slowing demand in China.
BMW yesterday said demand in China appeared to be “stabilizing” after a slowdown in the economy, which is expected to keep a lid on profit increases for the rest of this year.
BMW said profits rose to 1.58 billion euros (US$1.74 billion) from 1.31 billion euros in the year-earlier period, when the company had to deduct charges for the changed valuation of financial derivatives.
