New York: Driven by strong demand in Asia market, luxury car maker BMW AG on Wednesday reported a four-fold rise in net profit to 1.2 billion euros (USD 1.8 billion) in the first quarter of 2011.

In the year-ago period, the company had a net profit of 324 million euros, BMW said in statement.

The company's revenue in the quarter under review surged to 16 billion euros from 12.4 billion euros in the first quarter of 2010.

"We have generated record earnings and sold more cars in a first quarter than ever before," BMW Chairman Norbert Reithofer said.

Asia was the best performer in the first quarter in terms of geographys, with the number of cars sold rising by 53 per cent to 90,148 units, including 58,706 units in China.

Besides, sales in the US jumped by 18.2 per cent to 65,163 units, making it once again the largest single market for the BMW Group. In North America, cars sold to 71,257 units, up
17.3 per cent.

Overall, BMW's car sales in the first quarter rose 21 per cent year-on-year to 382,758 vehicles.

In 2010, BMW sold 1.46 million cars as compared to 1.29 million in the prior year.

(Agencies)