JANUARY 29, 2002

BMW beats its own records

BMW is doing well on the race tracks in Formula 1 and in the showrooms. Despite the downturn in the world economy the German car company is still selling more and more of its products with a 7.1% hike in sales last year.

BMW is doing well on the race tracks in Formula 1 and in the showrooms. Despite the downturn in the world economy the German car company is still selling more and more of its products with a 7.1% hike in sales last year. The company says that sales in 2001 were $33bn and that its profits have also gone up. The news sent BMW shares up nearly 5% in a day, pulling other automotive stocks up with it and triggering speculation that there might even be a European recovery on the way. This seems a little far-fetched at the moment.

BMW says it estimates similar figures in the year ahead...