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BMW posts record sales in China
■ BMW, the world’s largest luxury carmaker, posted its strongest-ever first quarter yesterday, overcoming weakness in Europe with surging sales in China, which leapfrogged the United States to become its single-biggest market. Earnings before interest and taxes rose nearly 19 per cent to €2.13bn (£1.73bn). Profits were driven by a sharp rise in sales of high-margin vehicles, including its family of SUVs and more importantly the 7 Series flagship limousine. Sales in China, which eclipsed the US as BMW’s largest market during the quarter, jumped 37 per cent.