Net income for BMW in 2009 fell by 36% from the previous year to €210 million due to lower demand and a higher tax rate, according to the company.

BMW is the world’s largest maker of luxury cars, but it has been affected badly by the international recession, along with many other car makers.

In 2008 their net income was €330 million. But in 2009 revenue fell by 5% to €51 billion.

It did not release full fourth-quarter figures, though BMW's complete earnings report is due next Wednesday.

Group production for the year decreased nearly 13% to 1.26 million cars.