BMW increases profits but sheds sales and staff

Pre-tax profit for the group rose by 17.7% from euro 351 million (£320m) in 2008 to euro 413 million last year (£377m). Revenues decreased moderately by 4.7% to euro 50.7 billion (2008: euro 53,197 million). Chairman Norbert Reithofer said: "We performed well in 2009 despite difficult market conditions worldwide. Our cost management and efficiency improvement measures had a positive impact, even though the effects of the worldwide financial and economic crisis were still being felt." In total, the BMW sold 1,286,310 BMW, MINI (pictured) and Rolls-Royce brand vehicles in 2009, 10% fewer than the previous year. Just over a million BMW brand cars were sold in 2009, putting the brand, the company said, well ahead of relevant competitors in the premium segment. The British built Mini brand sold 216,538 units worldwide in 2009, 7% down on 2008, with more than one half of the brand's customers opting for the Mini Cooper, with 26% selecting the Mini Cooper S and 20% the Mini One. Over 1000 Godwood-built Rolls-Royces were sold, 17% fewer than in 2008. The BMW Group's worldwide workforce amounted to 96,230 employees at the end of the year almost 4 % down on the previous year's 100,041. Looking ahead, BMW said it was cautiously optimistic for 2010 but expected the financial and economic crisis would continue to have an impact on the car industry this year. "We are heading into the new year cautiously optimistic. Our new models will provide us with a tailwind over the course of the year. We fully intend to remain the world's leading provider of premium cars in 2010 and plan to increase sales within the single digit percentage range to over 1.3 million vehicles," Reithofer said. The new BMW 5 Series will be launched at the end of March and the Mini Countryman will be introduced onto the market during the year.