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BMW Posts 21% Gain in Quarterly Pretax Profit
BMW AG's revenue in the first quarter climbed 15% to €20.9 billion.
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BMW AG's revenue in the first quarter climbed 15% to €20.9 billion. Net profit grew 4% to €1.6 billion.
The company's earnings before interest and taxes jumped to €2.6 billion from €2.1 billion in January-March 2014. Unit sales reached a record 526,700 vehicles.
BMW expects the global auto market to expand only 1.5% this year as continued decline in Russia and Brazil soften growth in China (+7% to 20.3 million units), the U.S. (+3% to 17 million) and Europe (+4% to 13.5 million).
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