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Business

BMW Motors into Record Sales

For the second year in a row, German carmaker BMW reported record profits for 2002 on Thursday. The Munich-based company reported a 9.9 percent increase in revenues over the previous year to 42.28 billion euros ($45.43 billion). The company said it is reckoning with an equally rosy prognosis for 2003, with “more dynamic developments” in its core North American, European and Asian markets. Earlier this month, BMW announced that, for the first time in its history, it had sold more than one million cars during a single year, with more than 1.06 million vehicles sold and a 17 percent increase in sales.