Bmw remains optimistic despite European crisis

Article by Christian A., on July 14, 2011

Even with the dwindling demand in Greece and southern Europe and despite the economic data implying a cautious outlook in the U.S., BMW remains optimistic. This is because its new models are raising sales growth in emerging markets to as high as 70%.

In an interview, BMW Marketing Director Ian Robertson said that the markets in China, Brazil, South Korea and Turkey are having a sales growth of at least 60% while Europe is "a tale of north and south."

In London, Robertson said that BMW is anticipating much success as its markets are getting stronger; however, it sees “some potential risk."

He said that he believes some economies will face more difficulties. A few days ago, BMW's automotive division raised its profit and sales forecasts, explaining that the demand in the second quarter is expected to go up in the upcoming months.

BMW expects to sell 1.6 million vehicles in 2011, with earnings before interest and taxes surpassing 10% of revenue. He said that the U.S. auto market is far from its condition in 2007 when it peaked with sales of about 17 million units. He expects sales to reach 12.5 million to 13 million units from a low of about 10 million.

He said that there are several U.S. economic indicators that make BMW become “more cautious.” He explained that the unemployment rate isn’t improving and the housing market has yet to recover.

The U.S. sales of the BMW Group have risen by 18% this year through June, with its BMW brand reporting a 13% sales increase while the Mini brand is up 42%. This year, the overall U.S. car and light truck market has grown by around 13%.

Topics: bmw, europe

If you liked the article, share on:

Comments

Recommended

It’s not a bird. It’s not a plane. It’s Kris Singh’s blue carbon flying machine! Time stood still for a few minutes after the extremely rare Pagani Huayra BC Macchina...
by - May 24, 2017
If you’re selling some of the most expensive and most exclusive cars in the world, perhaps it would be a great idea to commission an ultra-rare work from the same...
by - May 24, 2017
Ford Motor Co. now has a new man on the top, and he goes by the name of Jim Hackett. Effective May 22, 2017, Hackett is named the new president...
by - May 24, 2017
Skoda recently launched the new Karoq compact SUV as a replacement model to its now-defunct Yeti small crossover. Slotted below the newly introduced Skoda Kodiaq, the new Karoq features a...
by - May 23, 2017
There are already rumors suggesting that the next generation BMW 5-Series GT is expected to be joining the 6-Series range. The latest reports instead tell us that that 3-Series GT...
by - May 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries