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BMW Joins Daimler Getting Boost From Auto-Sales Recovery

  • Auto business generated more cash than expected last quarter
  • German carmaker’s shares still drop in early Frankfurt trading
   

Photographer: Simon Dawson/Bloomberg

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BMW AG said its auto business generated more cash than expected last quarter, joining rival Daimler AG in posting surprisingly positive preliminary earnings.

Automotive free cash flow in the three months ended in September was 3.07 billion euros ($3.6 billion), the Munich-based manufacturer said in a statement late Monday. That’s up from 714 million euros a year ago and exceeds market expectations.