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BMW expands US, Chinese output, plans to sell 2-million vehicles in 2014

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BMW expands US, Chinese output, plans to sell 2-million vehicles in 2014

BMW, the world’s largest premium carmaker is looking to expand production capacity at its plants in the United States and China, as the German automaker reaffirmed the company’s target to sell more than two million vehicles this year.

Last year BMW delivered a record 1.96 million cars (BMW brand: 1.66 million cars / MINI brand: over 305,000 cars / Rolls-Royce brand: 3,630 cars / BMW Motorrad: over 115,200 motorcycles). Overall, group sales rose 6.4 percent in 2013, while Audi – the second largest premium carmaker in the word said its global sales rose 8.3 percent to 1.58 million premium vehicles in 2013.

“We are aiming to achieve a significant rise in sales volume in 2014, which would take us to a new all-time high of over two million vehicles”, stated Norbert Reithofer, Chairman of the Board of Management of BMW AG at the Annual Accounts Press Conference on Wednesday in Munich.

“We expect group profit before tax to rise significantly in the current year despite ongoing volatile business conditions,” Reithofer said.

Reithofer also said the company was looking at expanding production capacity in the United States, at its plant in Spartanburg, South Carolina – where the automaker builds 300,000 vehicles in 2013.

However the CEO did not confirmed if BMW plans to build a new SUV, like in upcoming X7 that is expected to compete with the already announced Audi Q9 and VW Crossblue – a vehicle that will hit the U.S. market somewhere in 2016, according to VW.

On the same time, Reithofer said in China, where the German giant expanded capacity to 300,000 vehicles a year last year is already making preparations to further exmapnd output to 400,000 units this year – and the company will build a new plant where will assembly engines togheter with its partner Brilliance.

Shortly after the announcement, at 1045 GMT+1, BMW shares were up 6.28 percent at 85.73 euros / share.

 

by Mircea Serafim (my Google+) - Wednesday, March 19th, 2014 - filed under BMW, Industry, News. Image credit: .
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