BMW is set to increase Mini output at Oxford by around 10 per cent over the next few years to around 180,000 units (2002= 160,000 units).

But CEO Helmut Panke, who was speaking to financial analysts yesterday, did not point to any launch date for a convertible derivative – which is expected to join the range.

BMW says it now makes money on every Mini sold – thanks to the consumer preference for Cooper models and significant accessory purchases.