Business

BMW's profits boosted by strong Chinese sales

BMW car
Image caption BMW's Chinese sales are motoring ahead

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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