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German automakers defy analyst predictions by earning huge profits

by Chris Tutor (RSS feed) on May 4th, 2012 at 6:44PM

Europe's financial situation is, well, bad. So no one was surprised to see analysts' low expectations for German carmakers. But the numbers are out, and whaddya know? Three German auto companies have reported better results than predicted. BMW reported this week that its first quarter profit rose 19 percent. BMW said 1-Series sales jumped 20 percent, which helped the company deliver a record total of 425,528 vehicles in the first quarter. Last week, Daimler and Volkswagen blew past analysts' expectations with VW increasing profit 10 percent and Daimler making 4.9 percent more that last... Read More

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