Bmw remains optimistic despite European crisis

Article by Christian Andrei, 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

Login or Create new account to add a comment!

Recommended

Nearly a year after the Subaru XV Concept was unveiled at the 2016 Geneva Motor Show in Switzerland, this SUV study is making its North American debut at the 2017...
by - January 23, 2017
It looks like Porsche will be very busy throughout 2017 as it prepares for the eventual launch of its two new models this year – the 2017 Porsche 911 GT3...
by - January 23, 2017
Volkswagen Group’s dieselgate saga continues, but it appears the German company would be able to get out of trouble, but it would not be unscathed. This development comes as Volkswagen...
by - January 22, 2017
When a car has been in the market for nearly six years, it loses some of its luster and its customers tend to go for the all-new model with a...
by - January 22, 2017
Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 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