BMW aims for new sales, profit records this yearMarch 19, 2014 @ 4:15 am
FRANKFURT, Germany (AP) -- Germany's luxury carmaker BMW predicted Wednesday that underlying earnings this year will easily outstrip last year's.
In a speech at the carmaker's home base in Munich, CEO Norbert Reithofer said that the company would sell more than 2 million vehicles, up from last year's 1.96 million.
He also said the company is aiming for pretax profits "significantly above" last year's 7.9 billion euros ($11 billion). Its pretax earnings in 2013 were more or less flat compared with the previous year.
Reithofer said the company was looking at expanding production capacity in the United States. Last year it built 300,000 vehicles at its plant in Spartanburg, South Carolina.
In 2013 BMW saw net profit rise 4.5 percent to 5.34 billion euros. Sales fell 1 percent to 76.1 billion, largely due to a stronger euro that shrinks earnings in other currencies when they are restated in euros.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
What Took So Long?
WSDOT explains why it took so long to clean up a collision on I-5 Monday morning
Coach Pete Carroll is disappointed Percy Harvin didn't work out
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.