FRANKFURT - German luxury automaker BMW says net earnings rose 31 per cent in the first three months of the year as sales increased in Europe, the U.S. and Asia, led by profitable SUVs and the 7-Series large sedan.
The Munich-based automaker said Thursday it made 2.15 billion euros ($2.34 billion) compared to 1.64 billion euros in the year-earlier quarter.
Profits were also boosted by a one-time gain of 183 million euros due to the increased value of its HERE mapping venture with Daimler and Audi.
Vehicles sales rose 5.3 per cent. Sales of the X5 SUV made in Spartanburg, South Carolina were up 18 per cent while unit sales for the 7-Series rose 50 per cent.
Sales in China rose 12 per cent while the United States saw a much more modest rose of 0.7 per cent.
