Waning Luxury-Car Sales Hurt BMW Revenue

Scott Vruggink

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Germany's BMW AG said Friday its 2009 revenue fell 4.7% from a year earlier, reflecting the woes luxury car makers faced as demand for their vehicles contracted sharply, but that it still expects to post a profit for the year.

The Munich-based company said 2009 revenue fell to €50.68 million, but it still hit its targets. BMW Chief Executive Norbert Reithofer attributed the forecast profit to cost management and other measures aimed at improving profitability.

Scott Vruggink

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800-750-9008
www.elhart.com
www.affordableautomotive.biz
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