BMW profit soars

The world's leading luxury carmaker, BMW, reported record profits and sales for 2010 Thursday and said it expected more of the same this year.

The group, which also owns the Mini and Rolls-Royce brands, said net profit soared to 3.23 billion euros ($4.45 billion) from 210 million euros ($291.86 million) in 2009.

The company proposes to pay shareholders a dividend of 1.30 euros ($1.80), up from 0.30 euros ($0.41) in 2009, a statement said.

It said it expected record sales this year again of at least 1.5 million vehicles.

China emerged as Germany's biggest market ahead of the US. BMW's sales in China increased 85.3 percent.

Agencies