BMW gets a good 2nd quarter start as profit increases in China and U.S.

Thanks to the new 5 Series, BMW has reported their biggest profit in 2 a half years. 25,000 units of the new BMW 5 series sedan has been sold since it has been released in Europe last March. The large demand in China and the rebound in U.S. for the new 5 Series really helped boost the sales of BMW — a good start for the second quarter of 2010.

According to BMW, the second-quarter net income attributable to shareholders gained more than six times $1.09 billion. Bloomberg analysts underestimated the profit of BMW as it rose 18% to 15.3 billion euros.

Profits of BMW is also a result of their cost cutting strategies like the new X1 and 5 series sharing parts with the 7 series. By expanding the range of BMW through the new X3 and the Mini fleet with its first four-door model Countryman, the BMW Group is confident that they are in the right track in reaching their profitability targets.

Source: Autonews