China boosts BMW with record sales

STRONG sales of its luxury cars in China helped boost BMW AG's net profit by 16 per cent in the third quarter.

Booming Asian sales helped the maker of the X5 sport utility vehicle and the 5-series sedan overcome a stagnant market in Europe. Consumer demand remains slack there because of the economic crisis.

Net profit rose to 1.29 billion euros ($A1.61 million). Sales jumped 13.7 per cent to a record 18.82 billion euros.

China sales rose 30 per cent, while European sales grew modestly at 2.6 per cent as sales sagged in southern Europe where the economic crisis is at its worst.

Sales were even down slightly in BMW's home market of Germany.

The company said it was sticking to its earnings forecasts despite "an increasingly uncertain market environment."

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