FRANKFURT— BMW AG , the German luxury car maker, reported a 4% rise in first-quarter net profit on sharply higher sales, boosted by strong demand in the U.S. and Europe as well as the euro’s weakness against the dollar.
The world’s leading premium car maker by sales said on Wednesday that net profit rose to €1.52 billion ($1.7 billion) from €1.47 billion on a 15% rise in revenue to €20.92 billion. BMW’s profit growth was in line with analysts’ forecasts while revenue was slightly better than expected.
BMW has been warning of slower growth in China where sales rose 6.4%, well behind more robust markets in Europe, where BMW reported an increase of 9.6%, and a nearly 13% increase in the U.S.