BMW is on track to achieve 2-million unit annual sales target in 2016

Article by Anita Panait, on March 14, 2012

BMW expects to achieve its target annual sales of two million cars four years earlier than planned. The company had forecasted to top two million sales in 2020 and by the looks of the figures in the first months of 2012, BMW is poised to reach the target by 2016. CEO Norbert Reithofer said BMW may surpass the 2 million target this year, including its Mini and Rolls-Royce brands, without sacrificing its profits.

BMW delivered 1.67 million cars in 2012. Reithofer said that BMW is expecting new highs in sales volume and pretax earnings for 2012. The company’s pretax profit for 2012 is expected to surpass the EUR7.38 billion posted in 2011.

The chief executive said that the company is off to a promising start, as it posted record sales figures in the first months of 2012. The company is all poised to protect its title as the world's best-selling premium carmaker from close rivals Audi and Mercedes-Benz by building new plants in Brazil and China.

All three premium carmakers expect to break sales records this year as demand continues to grow in the US and China. BMW, however, warned that profitability at its automotive division may take a hit this year due to the current European debt crisis and the introduction of the new versions of the new 3 series and 1 series, which shifts consumer to buy lower-margin models.

Reithofer said that the company’s auto earnings before interest and taxes would be "at the upper end" of its 8 percent to 10 percent target range. The figures are lower than the 11.8 percent margin that the company posted in 2011.

Topics: bmw, sales

If you liked the article, share on:

Comments

Recommended

After the highly dynamic Polestar 1 two-door coupe – Polestar’s first ever production car -- was recently unveiled, not a few people’s curiosity was piqued as to how much they...
by - October 21, 2017
The BMW 7 Series is already highly sought after but nonetheless, the German marque is giving it a more exclusive variant for the Russian market, and they are calling it...
by - October 20, 2017
Several automakers including Porsche, Volkswagen, Smart and even Land Rover have all been victimized by cheap Chinese copycats. And if you haven’t seen it yet, the most recent one would...
by - October 20, 2017
The Mercedes-Benz G-Class has been around for quite some time now but to bid it farewell, the company has launched the Mercedes-AMG G65 Final Edition. Mercedes will only build a...
by - October 20, 2017
Have you ever wondered what you can you buy with $9,365 in your pocket? Well, you have quite a lot of options. In fact, you can even purchase a used...
by - October 20, 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