German carmaker BMW AG said Thursday its net profit fell 90 percent in 2008 as the global economic crisis cut into demand for its sports and luxury cars. In an unexpected preliminary earnings release, the Munich-based company said its net profit for the full year dropped to 330 million euros ($416 million) in 2008 from 3.1 billion euros in 2007.
Total revenues fell 5 percent to 53 billion euros from 56 billion euros in 2007.
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