BMW aims for high profits and sales

The BMW group has said it is optimistic about the current financial year after seeing record sales in 2011.

Despite the global economic sluggishness, the automotive segment is expected to achieve an EBIT margin of around 8% and 10%.

For BMW this is predicted to be closer to the upper end of the scale, although this will depend in part on how the global economy develops.

Predicted to aid growth for the company is the BMW 3 Series, from which the sedan version was launched in February 2012.

Norbert Reithofer, chairman of BMW, said: "We are starting the new year with a full order book and a highly attractive model range.

"The BMW Group plans to grow faster than the market as a whole in 2012 and expects to achieve new sales volume records for its BMW, MINI and Rolls-Royce brands."

Mr Reithofer also said that the company wants to achieve new sales records as a whole, as well as strong pre-tax earnings for 2012, when speaking to the Annual Account Press Conference in Munich.

Copyright Press Association 2012