BMW on track for record sales

BMW, the world’s largest premium car maker, yesterday reported forecast-beating quarterly results at its core car business and reaffirmed that group car sales will reach a new record high this year. BMW said earnings before interest and tax at its automobile segment rose by a third to €2.08bn (£1.8bn) in the fourth quarter, equivalent to a margin of 10.6 per cent. Full-year revenues rose 11.7 per cent to €76.8bn.