Sahit Muja
Sahit Muja: Germany: BMW profit rose 400% record car sales in China.
German luxury car maker BMW says first-quarter net profit rose 400% from last year to $1.79 billion as sales climbed all around the world.
Revenues grew 29 percent to euro16.04 billion.
Profits soared in the first quarter of 2011 in the giant Chinese market’s, car sales rose at the record in Q1.
Volkswagen’s, Audi’s and Mercedes-Benzes and BMW reached new sale records in China .
Volkswagen Group first quarter car sales in China rose to 20 per cent year. Volkswagen reported a Q1 net profit $2.3 billion an increase of 260 per cent from 2010.
Daimler AG’s net profit doubled $1.59 billion.
Sales of Mercedes-Benz vehicles in China rose 82 per cent to 48,861 units in the first three months 2011.
Steel production in Germany rose 34.1 percent to 43.8 million tonnes in 2010
Steel production in Germany is expected to continue rising.
Germany’s crude steel production totaled 11.39 million tonnes in the Q1 2011, soared by 4.2% .
German manufacturing growth accelerated more than estimated in April, driven by higher output in German motor company.
Germany have the strongest economy in Europe and German manufacturing and car production is estimated to grow.
Albanian Minerals expects steel production and demand in Germany to continue to grow.
Sahit Muja
President and CEO
Albanian Minerals
New York
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