BMW sales rise 14%

Automaker BMW AG said Wednesday 2007 sales soared more than 14% as buyers clamored for its mix of BMW sedans, sporty Mini and luxury Rolls-Royce cars and said it was on track for higher sales this year.

The Munich-based automaker, which is the top seller among premium car manufacturers, said sales rose to 56 billion euros ($82.73 billion) compared with 48.9 billion euros in 2006, beating the 55 million euros that analysts polled by Dow Jones Newswires had expected. The bulk of the increase came from its automobile segment, which rose 13% to 53.8 billion euros ($79.48 billion) compared with 47.7 billion euros a year earlier. Sales of its motorcycles decreased by nearly 3%.

The company did not break down its sales figures for the fourth quarter.
“We expect a new record sales volume figure in 2008, with stronger growth in the first half of the year and more moderate growth in the second," BMW Chief Executive Norbert Reithofer said.

Shares of BMW were up more than 1.9% to 38.16 euros ($56.37) after the results were announced.