Recession hasn’t hurt the production pace of BMW's plants as cars are rolling out at a record high and the factories are “working at full tilt,” according to Chief Financial Officer Friedrich Eichiner.
At a Munich briefing last week, Eichiner told journalists that deliveries of the revamped X3 sport-utility vehicle will start only in 2012. X3 demand had boosted sales of BMW, Mini and Rolls-Royce cars by 7.4% to 110,891 units in August.
As the demand in the U.S. and China are increasing, BMW, Mercedes-Benz and Audi are predicting that their sales this year will break records. Last August, Audi said that it will create more jobs for its plan to expand its production, according to Autonews.
For instance, the A8 flagship sedan will get a 57% boost in capacity over expectations that the luxury-auto industry will get through the stock-market slump unscathed. Mercedes also plans to increase output. BMW maintains an optimistic outlook despite the concerns related to the economic slowdown.
According to European Central Bank President Jean-Claude Trichet last week, the euro region's economy is being threatened further due to the worsening of the debt crisis in the region.
But even if the present business seems unaffected by the economic risks, BMW is getting ready for a slowdown after reducing costs and decreasing its leasing business to lower financial risk during the 2009 recession. Eichiner added that BMW may be able to survive a similar predicament without its automotive business falling to a loss.