BMW AG has outperformed in the first five months of the year with a 14%-15% growth but despite that, it will not change its 2010 sales growth prediction of a "single digit" percentage in light of tougher comparatives and global fiscal changes.
Ian Robertson, head of sales and marketing, said that the company remains "cautious" because in the second six months, there will be year-over-year comparisons.
Notably, sales have started to recover in 2009. At the Automotive News Congress in Bilbao, Robertson stated that there are numerous governments worldwide that are presently implementing fiscal changes, and so he believes that the "market position could change as well."
When asked to comment on China's new currency flexibility, Robertson said that the company has turned its focus on raising its natural hedging around the world.
He said that currency is "much more volatile than it ever was." He said that the "only real solution" would to be to invest and manufacture and purchase components in the currencies where cars are sold.
Robertson claims that BMW is doing well in China and also pointed out that it raised its China sales forecast in April. The group is also expanding its US production and will become the largest exporter of cars from that market.