Though Bayerische Motoren Werke (BMW) AG’s sales fell 13% in the first quarter to EUR 11.5B, it was much less than analysts expected. It reported a net loss of EUR 152M for the period, a smaller loss than in the previous quarter, as it cuts its workforce and curtails production. Its loss is also slimmer than its rival Daimler AG (manufacturer of Mercedes Benz cars), which posted a loss of EUR 1.12B for the quarter. BMW shares jumped 3.65% in trading yesterday to close at EUR 28.36 in Frankfurt.
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