BMW, the world’s biggest premium carmaker, sold a record 1.5 million vehicles in 2007, and says it is on course to meet its target of selling 1.8 million cars in 2012, confident that sales of its BMW, Mini and Rolls-Royce brands will continue growing.
The company’s profit before tax was 3.9bn euros ($6.1bn; £3.0bn) in 2007, 6.1% down on the previous year, but still high. Despite the weak dollar and high commodity prices, the carmaker is hoping to increase its earnings this year.
But there is one big cloud on the horizon. The BMW group is battling to limit the fall-out from the weakening dollar. In an interview with the BBC, BMW’s chief executive, Norbert Reithofer, confirmed that the carmaker would be increasing production at its plant in the US.
BBC News Thursday, 20 March 2008, 00:03 GMT
Tags: BMW, business news
