BMW CFO admits profits may drop in 2013 image

BMW does not rule out that its profits may decline next year, the company’s CFO said.

BMW’s chief financial officer, Friedrich Eichiner, said the world’s largest premium carmaker aims to increase its vehicle sales in 2013 and, if possible, earn more money.

“I have never made it our goal to earn less money. Naturally we will aim for higher sales volumes and – if somehow possible – earn more money,” Eichiner was quoted as saying by Reuters. The executive added that group sales in November rose roughly 20 percent to more than 170,000 vehicles.

Preliminary data show vehicle sales so far this year reached about 1.66 million, up roughly 10 percent, and just a little less than the 1.67 million sold last year. Final data are due next week. For this year, BMW aims for a higher profit and sees the margin on earnings before interest and taxes for its auto operations between 8 percent and 10 percent.

Friedrich Eichiner said that the environment in Europe remains difficult, but there is clear growth in the U.S. and China. Earlier this week, BMW reported November sales in China rose more than 60 percent, while U.S. sales increased by nearly 40 percent.