Demand up for BMW
17/05/2010
The company achieved profit of almost EUR 450 million in the first quarter of 2010, more than it made in the whole of 2009. Chief executive, Norbert Reithofer, said on reporting the figures that the global economic crisis was coming to an end, and that there was a rebound in global demand for luxury cars.
Sales rose 13.8% in the first three months of 2010, compared to the same period last year, reaching 315,614 cars in total. BMW said this increase was driven mostly by China, where its sales doubled. It now sells one in every five cars in Asia and has announced that it will spend EUR 560 million on a new factory in Shenyang in north-east China.
BMW said in 2007, when demand was high, that the leather requirement for its high-end cars meant it acquired 11,000 hides a day.
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