Asia sales boom boosts BMW profits

German car manufacturer BMW posted an over two-fold increase in its second-quarter net profit to 1.81 billion euro (£1.58 billion), driven by strong sales in Asia.

The figure was higher than stock market analysts' expectations.

In the April-June period of 2010, the company's net profit stood at 834 million euro (£730 million).

BMW saw a 16.5% year-on-year increase in its revenues to 17.9 billion euro (£15.7 billion) in the three months ended June 2011.

There was a 43% rise in sales in Asia, led by growth in the Chinese market.

The US market posted a sales growth of 18%.

Sales volumes of BMW's 5-series sedan and X-3 sport utility rose sharply.

There was a 52% growth in sales in China.

A total of 63,300 cars were sold by BMW in China in the three months ended June, while the number of vehicles sold in Germany stood at 80,300.

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