German carmaker BMW 2009 net income falls 36 pct to $286 million

BMW 2009 net income falls 36 pct to $286 million

FRANKFURT — German carmaker BMW AG says its 2009 net income fell 36 percent to €210 million ($286 million) because of lower demand for its cars during the economic downturn as well as a higher tax rate.

The Munich-based company, the world’s biggest luxury car maker, earned €330 million in net income in 2008.

Revenue in 2009 was down nearly 5 percent to €51 billion from €53 billion in 2008, BMW said Thursday.

BMW also builds motorcycles and the Mini and Rolls Royce car brands.

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