Munich — The BMW Group achieved a new sales revenue record in 2007. Compared to the previous year, group revenues rose by 14.3 percent to 56 billion euros ($82.73 billion). Revenues of the automobiles segment increased by 12.7 percent to euro 53.8 billion euros ($79.48 billion). The financial services segment also reported increases in revenue of 25.8 percent to 13.9 billion euros ($20.53 billion).

The BMW Group's financial services business continued to grow in 2007. The volume of new retail customer contracts rose by 16.4 percent to 28 billion euros ($41.37 billion), thereby reaching a new record level. The proportion of new BMW and MINI cars financed by the financial services segment increased in 2007 to 44.7 percent from 42.4 percent in 2006.

The total number of BMW, MINI and Rolls-Royce brand vehicles delivered to customers in 2007 also rose to its highest level to date, with the sales volume rising by 9.2 percent to 1.5 million units. BMW officials said the company expects bigger things in 2008.

"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," stated Norbert Reithofer, chairman of BMW AG's Board of Management in Munich on Wednesday.

The BMW Group is also working intensively to improve group profitability. "These targets — sales growth and profitability — are both of paramount importance for the future of the BMW Group," Reithofer emphasized.

The BMW Group sold more cars in 2007 than ever before in its history. An contributing factor was the contribution made by the EfficientDynamics package, which is helping to reduce fuel consumption and CO2 emissions.

The USA remained the largest single market for BMW and MINI cars in 2007. With a sales volume of 335,840 units, a 7.1-percent increase over 2006, the BMW Group sold more vehicles there than ever before. On top of this, BMW was the most popular European premium brand among U.S. customers in 2007. In total, 293,795 BMW brand cars were sold in the United States, making it the most successful European car brand on the U.S. market in 2007.