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BUSINESS
BMW profits rise in 'most successful year' ever
FRANKFURT, Germany -- German automaker BMW says net profit increased 4.4 percent to (euro) 5.1 billion ($6.6 billion) in 2012 -- hailing it as its "most successful year" -- thanks to a big sales jump in Asia and a better market in the United States.
The company, based in Munich, said Thursday that unit sales rose 31 percent in Asia, including a 40 percent rise in China excluding Hong Kong, and 14 percent in in the U.S. Sales of the 1-series compact increased 28 percent while the mainstay 3-series sedan saw a 6 percent rise.
Overall revenues rose 12 percent to (euro) 76.8 billion. The company said profits rose less steeply than revenues because of investments in new technologies and increased personnel costs.
