BMW management board chairman Norbert Reithofer on Thursday (14 March) said 2012 was the group’s best year yet as it announced record sales and profits and healthy margins.

Sales rose year on year by 11.7% to EUR76.85bn, EBIT was up 3.5% to EUR8.3bn, pre-tax profit climbed 5.9% to EUR7.82bn and group profit lifted 4.4% to EUR5.12bn.

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Vehicle sales rose 10.6% to 1,845,186 units.

“We have achieved or surpassed all of our targets for 2012 in the face of very challenging market conditions,” Reithofer said.

Automotive segment sales rose 11.0% to EUR70.21bn for an EBIT margin of 10.9%. Pre-tax profit was up 5.5% to EUR7.2bn.

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BMW brand sales rose 11.6% to 1,540,085 units, marking the first time the brand has done 1.5m units in a single year. BMW cited rising 1 series volume, up 28.6% to 226,829 units for claimed segment leadership, as one reason.

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Mini sales were up 5.8% to 301,526 units.

Rolls-Royce claimed to be “clear market leader in the ultra-luxury segment in 2012”, with sales up 1% to 3,575 cars.

Of the future, Reithofer said: “We are again targeting further sales volume growth worldwide in 2013 and hence a new record level for deliveries. However, economic conditions are likely to remain challenging in many markets.”