According to BMW’s CFO Friedrich Eichiner, U.S. will overtake Germany as the luxury-car maker’s largest sales region again in coming years.
In addition, the Munich-based car company could post double-digit sales growth in the U.S. in 2012, Eichiner predicted — as Europe takes steps to deal with the debt crisis and the U.S. continues to recover from the 2009 recession.
“We’re optimistic about growth potential in the U.S.,” Eichiner told reporters late Tuesday at a presentation of BMW’s revamped 3-series model. His remarks were embargoed until Wednesday.
Sales declined by 2.5 percent for instance for the company’s volume leader, the mid-size 3-series. A new version however is headed for dealers in February.
Eichiner said the new-generation 3-series is set to drive both sales volume and earnings, as it will reap net cost savings of up to 9 percent compared with the previous model, thanks mainly to lower purchasing prices and sharing parts and components.
Eichiner said the company was not expecting a recession because of the European debt crisis but was “much better prepared” for financial turmoil than it was ahead of the freezing of financial markets that happened in 2008.
BMW’s third-quarter revenues rose by almost 4% year-on-year to more than 16.5 billion euros.