The world's leading luxury car maker, BMW, said on Wednesday it expected a "notable" increase in net profit this year after managing to end 2009 in the black despite a global sector crisis.
BMW boss Norbert Reithofer told a press conference that BMW hoped to sell more than 1.3 million vehicles, up from 1.29 million last year, and thus remain ahead of German rivals Audi and Daimler, the maker of Mercedes-Benz.
The company stood by its 2009 net profit of 210 million euros ($A317.6 million), a drop of 36.4 per cent from the previous year, on sales that slipped by 4.7 per cent to 50.68 billion euros.
"We have significantly reduced costs in all sectors of activity," Reithofer told a press conference in the group's home town of Munich, southern Germany.
In addition to its eponymous automobiles, BMW owns the Mini and Rolls-Royce brands and also sells high-end motorcycles.
On an operating basis, the automobile division suffered a net loss of 265 million euros ($A397.18 million) however, compared with a profit of 690 million in 2008.
BMW's financial services unit turned in a profit of 355 million euros ($A532.07 million) meanwhile, erasing the loss of 216 million from a year earlier.
Investment was sharply lower, falling by 17 per cent to 3.4 billion euros, the company said.
AFP
