Bayerische Motoren Werke AG (BMW), the world’s largest maker of luxury vehicles on Tuesday forecast it would sell more than two million cars in 2016, four years earlier than initially planned.
“We are targeting new record highs in vehicle sales and pre-tax earnings for 2012,” Chief Executive Norbert Reithofer told reporters at the group’s annual news conference in Munich.
The luxury automaker plans to build new plant in Brazil and is expected to add a second factory in China this year as it seeks to fend off efforts by Volkswagen AG (VOW3)’s Audi and Daimler AG (DAI)’s Mercedes-Benz to take the lead in the segment.
In China the German giant will increase annual output to 200,000 vehicles or more, according to Ivan Koh, president of BMW China Automotive Trading Ltd.
An expanded product lineup is another positive factor, he said, noting examples like the locally produced X1 SUV that recently hit the market and the new 3 Series sedan that will be made at the joint venture plant later this year.
“2012 will be a decisive year for the further internationalisation of the BMW Group,” Reithofer said.
“We are increasing our production capacity in China, the USA, South Africa and India, while at the same time evaluating potential production locations in the BRIKT markets.”