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BMW profits rise on sales of 7-Series, SUVs

Net profit for the second quarter at German luxury carmaker BMW rose 11 percent to 1.949 billion euros ($2.182 billion), the company said Tuesday, thanks to strong sales of its large 7-Series sedan and X-Series sport-utility vehicles.

The results improved on the year-earlier figure of 1.749 billion euros. Profits beat estimates of 1.687 billion euros compiled by financial information provider FactSet.

The key profit margin figure came in at 9.5 percent, an improvement on last year's 8.4 percent and in the upper end of the company's target range of 8-10 percent. Those are strong figures for the car industry, and reflect BMW's concentration in the higher-priced part of the...

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