BMW Group revealed its quarter three earnings for 2009 are positive, with its profits before tax totalling €126 million (£112 million).

The announcement was made in Munich this week, with Norbert Reithofer, chairman of the board of management of BMW, commenting on how the company had achieved its success.

He 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."

Mr Reithofer added that this predicted result was based on the worldwide economy remaining stable until the end of the year with the firm making its calculations based upon September’s growth figures.

The company currently has facilities for the production of vehicles in 13 countries and reports global sales of over 1.43 million.

It participates in the government scrappage scheme, offering customers £2,000 for trade-in alongside a £1,145.55 dealer deposit towards restricted car models from participating dealers.

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