BMW Raises Forecast as Profits Skyrocket
MUNICH (
) --
BMW
, the German maker of luxury cars, said third-quarter net earnings rose to €874 million ($1.23 billion) from €78 million a year earlier as revenue rose 35.6% and car sales increased.
Revenue in the quarter was €15.94 billion.
BMW said it sold 366,190 BMW, MINI and Rolls-Royce cars, up 13%, in the third quarter.
BMW said a recovery in international car markets "gives reason to believe that sales volumes will be significantly higher, particularly in emerging markets " in the fourth quarter.
The carmaker also said it sees an economic recovery in the U.S. "giving sales volumes another boost."
BMW forecasts a "significant increase" in pretax earnings for 2010.
-- Written by Joseph Woelfel
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