BMW increases 2011 sales and earnings : Bayerische Motoren Werke AG (BMW), the world’s largest maker of luxury vehicles, raised its profit and sales forecasts, saying strong second-quarter demand across global auto markets will prevail in the next months.
BMW’s automotive division now anticipates that earnings before interest and taxes will exceed 10 percent of revenue in 2011 on a sales of more than 1.6 million vehicles, the company said. The previous forecast was for an Ebit margin wider than 8 percent and deliveries in excess of 1.5 million units.
BMW is expanding its lineup to reach a goal of selling more than 2 million cars and SUVs annually by 2020. The “I” sub- brand will debut in 2013 with the i3, a battery-powered city car, and the company is also planning the i8, a hybrid supercar based on the Vision Efficient Dynamics prototype.
BMW said today it will continue to target a return on capital employed in excess of 26 percent and an Ebit margin of between 8 and 10 percent in 2012. The number of vehicles handed over to customers jumped almost 20 percent to 833,366 in the first half. Second-quarter results will be released on Aug. 2.
Growing demand for luxury vehicles also spurred sales at Porsche SE’s automotive division, which today reported a 29 percent gain in first-half deliveries to 10,667 cars. Volkswagen AG (VOW), seeking to merge with Porsche, said today six-month sales of namesake-brand vehicles rose 12 percent to 2.53 million units.
Tag ; audi increases 2011 earnings, increases 2011 sales and earnings bmw group, bmw increases 2011 sales and salary, mercedes increases 2011 sales and earnings,