Bmw CEO satisfied by firm’s good start in 2011

Article by Christian Andrei, on March 10, 2011

BMW CEO Norbert Reithofer said that the company had a “good start” and that it is satisfied with business so far this year. In an article from Italian financial daily Sole 24 Ore last Sunday, Reithofer said that BMW aimed to remain independent through partnerships and to achieve new record sales for all its brands.

He confirmed that BMW has set a target to sell over 1.5 million units in 2011. Last month, BMW said that January unit sales increased by 28% year-on-year to 105,177 vehicles. Meanwhile, February unit sales had risen by 20%. BMW’s 2010 business report is due to be published on March 15.

BMW anticipates a strong growth impulse from China, where it predicts to have double-digit growth this year, according to Autonews.

However, Reithofer also said that he considers India and Brazil as the "next China" for the company. He estimates that growth in Europe, which makes up about half of its sales, will be modest and will only “grow slightly over the next years.”

Reithofer said that when it comes to BMW's future, it intends to “remain independent, also over the next 10 years.” BMW expects to achieve this through innovation and partnerships focused on parts and engines.

Carmakers hope to enter a cooperation deal that enables them to reap synergies from cutting development costs for new technologies. Carmakers do this to meet tightening emissions legislation and gain customers even as they compete with the newer players.

Topics: bmw, ceo

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