Chinese growth and US bounce-back helps BMW drive forward

BMW's profits for the first quarter of the year came in stronger than expected thanks to continued strong demand for luxury cars in China and a rebound in sales in the United States.

The company said it still aims to sell more than 1.5 million cars this year and post higher earnings than in 2010.

BMW, which also owns the Rolls-Royce and Mini brands, said on Wednesday its operating profit rose more than fourfold to 1.90 billion ($2.81 billion), exceeding the average analyst estimate of 1.51 billion in a Reuters poll.

The strong results echo rivals Volkswagen and Daimler whose sales growth was fuelled by demand for cars in emerging markets such as China.