Premium carmaker BMW is looking at selling 1.3 million cars worldwide in 2010, a 1% increase over last year, said chairman Norbert Reithofer. The company sold 1.28 million cars in 2009 and is targeting the 1.6 million mark by 2012.
BMW, Mini and Rolls-Royce brands of cars, has plans to launch 17 new or updated models of these brands between October 2009 and December 2010. These include the Countryman from the Mini fold and the BMW 320d Efficient Dynamics Edition.
Speaking here at the company’s accounts conference, Reithofer said there would be a recovery in the premium car market this year over the last year, when the downturn caused a serious dent in sales. “Growth markets will increasingly be found further east,” he added.
Talking of emerging markets, Reithofer said BMW planned to grow its sales again in Brazil, China and India. Sales in the three countries rose 118.8%, 37.5% and 24.4%, respectively in 2009, over 2008. BMW sold 3,619 units in India in 2009.
The company is expanding its capacity at its Shenyang facility in China from 41,000 to 100,000 units at a cost of €600 million.
He did not specify what the overall capital expenditure in 2010 for BMW would be. The firm spent €3.47 billion in 2009, over €700 million less than the figure for the previous year. The capital expenditure ratio, which is the ratio between capex and revenues, dropped to 6.8% from 7.9%.
In 2009, the BMW group’s earnings fell 4.7% to €50.7 billion and net profit fell 36.5% to €210 million.
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