13 July 2001: BMW says it will make profits on its new Mini in the first generation of its production, or within six to seven years, in a response to recent press speculation which had suggested the project would lose money with the first Mini design.

BMW expects to sell 100,000 Minis around the world in a full year and profits are expected to begin coming in in the medium term when the company brings out 'niche lifestyle' versions which will include a convertible, a pick-up truck and a revived 'Clubman' wooden-sided wagon.

The company has said that plans to move downmarket with the Mini and the upcoming 1 series would not be at the expense of profits which it earns on its luxury range. BMW also plans to begin soon its £60 million Rolls Royce project at Goodwood.

BMW has spent Stg£230 million on developing the Mini project. CFC