BMW predicts a return to profit

BMW has reported a sharp fall in profits, despite introducing cost-cutting measures and moves to increase efficiency.

Despite the fall in third-quarter profits, BMW said that it hoped to report an overall profit for the full year.

Sales of BMW, Mini and Rolls-Royce models were down 7.2% in the third quarter of the year, with sales falling 15.7% over the first nine months of 2009 compared with the same period in 2008.

Norbert Reithofer, chairman of the board of management of BMW, said: 'The measures we have put in place to increase efficiency and reduce costs are taking effect.

'We are aiming to achieve positive group earnings for the current financial year.'