BMW Says New Models Helping Strengthen Bottom Line | Business| Economy and finance news from a German perspective | DW | 07.11.2003
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BMW Says New Models Helping Strengthen Bottom Line

German automobile manufacturer BMW said Thursday its pre-tax profits rose 5 percent during the third-quarter, brought on by the recent launch of new car lines. "The unexpected upward trend set in during the third quarter and will increase until the end of the year," BMW CEO Halmut Panke said in a statement. The news marks a turnaround for the company, which suffered from falling revenues during the first and second quarters. For the third-quarter, the company posted earnings of €724 million ($830 million) -- in line with analysts estimates. In recent weeks, the company has successfully lauched a number of new lines, including a redesigned 5-series saloon, the X3 sport utility vehicle and the 6-series coup.