(Adds details, compares profit with analysts' estimates)
Nov 3 (Reuters) - Canadian auto parts maker Magna International Inc MG.TO MGA.N reported a better-than-expected quarterly profit on Thursday, helped by strong demand from Asia and Europe.
Magna said sales in Asia jumped 58 percent to $548 million in the third quarter ended Sept. 30, while European sales climbed 29 percent to $2.18 billion.
Sales in North America, which make up the bulk of Magna's total sales, rose 13 percent to $4.84 billion.
Low gasoline prices have helped ramp up auto sales this year, especially in the United States.
Aurora, Ontario-based Magna, which bought German automotive supplier Telemotive AG in April to expand into vehicle connectivity, counts General Motors Co (NYSE:GM) GM.N , Volkswagen AG VOWG_p.DE , BMW BMWG.DE and Ford Motor (NYSE:F) Co F.N among its biggest customers.
Net income from continuing operations rose to $514 million, or $1.29 per share, for the third quarter, from $469 million, or $1.13 per share a year earlier. had expected $1.20 per share, according to Thomson Reuters I/B/E/S.
Total sales rose 15.5 percent to $8.85 billion.