Bmw vowed to remain the world’s largest premium automaker

Article by Christian A., on August 26, 2010

Pressures from the global economic downturn may be from all over but BMW AG aims to remain as the world's largest premium automaker as it forecast its car sales to rise in 2010, according to a statement by CEO Norbert Reithofer.

This year, BMW intends to remain as the world's leading provider of premium vehicles in 2010.

The carmaker also plans to increase sales within the single-digit percentage range to over 1.3 million units. Unit sales at BMW group (including the BMW, Mini and Rolls-Royce brands) dropped 10.4% to 1,286,310 in 2009.

Meanwhile, sales at BMW brand plunged 11.1% to 1,068,770 cars. Reithofer added that BMW begins the year with a "certain amount of optimism." He expects that new models will provide tailwind over the course of the year.

BMW also expects much from the recently launched X1 small crossover and the upcoming debut of the new-generation 5-series medium-premium car, which launches in March.

The German carmaker expects that due to cost-cutting and other efficiency measures, it should have a pretax profit in 2009. BMW said 2009 group revenue dropped 4.7% to 50.68 billion euros ($71.2 billion). Revenue for its core automobiles segment dropped 10.3% to 43.74 billion.

Topics: bmw

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