Frankfurt - The world's leading luxury carmaker BMW AG reported a 76-per-cent slump in second-quarter profit Tuesday.

Munich-based BMW said net profit fell to 121 million euros (174 million dollars) from 507 million euros in the same period last year as the global recession hit sales of premium cars.

"Despite some tentative positive signals, a lasting and wide-ranging recovery is not yet in sight," BMW chief Norbert Reithofer said releasing the results.

Second-quarter sales fell 11 per cent to 12.97 billion euros, BMW said. At the same time, the company decided against setting out a full year earnings forecast. (dpa)