Unfazed by rival VW's widening emission tests rigging scandal, German premium carmaker BMW has set new sales and profit records for the third quarter. The company said full-year targets would most likely be met.
German top-of-the-range auto maker BMW saw its bottom-line profit jump by 20.5 percent in the third quarter year-on-year to total 1.58 billion euros ($1.7 billion), with pre-tax earnings coming in at 2.26 billion euros, marking a 12.8-percent surge.
Revenues were up 14 percent in the period from July to September, while car sales also hit a new high, increasing by 6.9 percent to 545,062 units.
BMW executives were certain the company's full-year targets would be met.
Watching China, Russia
The Munich-based firm thus appeared completely unfazed by Volkswagen's widening pollution scandal, with the carmaker now having a hard time defending itself against fresh accusations it had installed its test rigging software also in larger-engine VW, Porsche and Audi diesels.
BMW was more concerned about the economic slowdown in China and the precarious state of the sanctions-hit Russian economy.
The company also warned of "fierce competition on automobile markets, rising personnel costs and continued high levels of upfront expenditure to safeguard business viability."
hg/ng (dpa, Reuters, AFP)