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BMW forecasts record sales, launches new models

BMW, the world's largest luxury vehicles maker, has predicted record sales and profit in 2012 boosted by eight new and updated models, Bloomberg has reported. The Munich-based company would stick to its target of beating last year's record earnings on higher deliveries and the auto unit generating a margin at the "upper end" of a range of 8% to 10%, CEO Norbert Reithofer said. "These targets are based on the assumption that the underlying economic conditions remain stable," Reithofer said.