BMW Sees Sales Reviving in Western Europe in Mid-2014 image

BMW CEO Norbert Reithofer said that the automaker does not expect the auto market in western Europe to revive before the middle of 2014.

“The situation in the western European market is still difficult,” Reithofer was quoted as saying by Boersen-Zeitung in an interview published today, July 16th. “Little will change until the middle of next year. Perhaps we will see a slight pickup in western Europe in the second half of 2014.”

Reithofer said he expected the auto market in Western Europe to drop 5% this year and in May BMW announced it expected group’s sales to increase in 2014, after reporting a drop of 4.1% in the first quarter revenue to 17.6 billion euro. He also added that even if competition is tough BMW tries to avoid offering discounts, but at the same time keep its market share at a stable level.

In June BMW surpassed its German peers, with record sales for the month, thanks to a 63% increase of the 3 Series vehicles. BMW brand’s sales increased 25% last month to 27,074 units, Mercedes was up 9.8% to 24,415 units and Audi jumped 8.2% to 13,706 units. This means that only 1,519 units separate BMW and Mercedes in the race for the no.1 place in luxury sales.

Source: Reuters

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BMW CEO Norbert Reithofer said that the automaker does not expect the auto market in western Europe to revive before the middle of 2014.

“The situation in the western European market is still difficult,” Reithofer was quoted as saying by Boersen-Zeitung in an interview published today, July 16th. “Little will change until the middle of next year. Perhaps we will see a slight pickup in western Europe in the second half of 2014.”

Reithofer said he expected the auto market in Western Europe to drop 5% this year and in May BMW announced it expected group’s sales to increase in 2014, after reporting a drop of 4.1% in the first quarter revenue to 17.6 billion euro. He also added that even if competition is tough BMW tries to avoid offering discounts, but at the same time keep its market share at a stable level.

In June BMW surpassed its German peers, with record sales for the month, thanks to a 63% increase of the 3 Series vehicles. BMW brand’s sales increased 25% last month to 27,074 units, Mercedes was up 9.8% to 24,415 units and Audi jumped 8.2% to 13,706 units. This means that only 1,519 units separate BMW and Mercedes in the race for the no.1 place in luxury sales.

Source: Reuters

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