BMW says U.S. sales down more than 22 percent in January

Luxury automaker BMW AG said Monday that its U.S. sales in January were nearly a quarter lower than a year earlier, blaming the drop on low inventory levels after a strong pre-Christmas performance.

The Munich-based automaker said it sold 16,935 cars in the U.S. last month, down 22.4 percent from the 21,811 it sold in January 2007.

The dip, which the company said was expected, was attributed to lower than normal inventory levels because of stronger sales in December, along with increased demand for its all-wheel-drive cars.

Monthly sales of the company's BMW-branded cars fell 28.8 percent to 11,053 from 15,528 a year earlier, while sales of its BMW Sports Activity Vehicles were down 19.2 percent to 3,422, compared with 4,233 in 2007.

The company's Mini USA unit, however, reported a 20 percent rise in sales, with 2,460 cars sold _ up from 2,050 last year.

BMW shares were up 2.2 percent to euro38.28 (US$56.77) in Frankfurt.