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BMW has aggressive plan for new models

By / 8 years ago / Latest News / No Comments

Board chairman Norbert Reithofer told the company's annual accounts press conference in Munich that the 3 Series Coupe and Convertible as well as the X5 SUV have already been updated and the 320d Efficient Dynamics model will be introduced this spring.

The new 5 Series is currently being rolled out and also coming during the year will be the MINI Countryman in September while Rolls-Royce will launch the new Ghost.

The MINI brand sold 216,538 units worldwide last year, down from 232,425 a year earlier and Rolls-Royce delivered 1,002 cars, down from 1,212 in 2008.

Mr Reithofer said the company had risen to the challenges of the global economic crisis. 'We managed to reduce costs in all areas. Our efficiency improvement measures have been bearing fruit.'

The group profit before tax rose by 17.7% to €413 million (£374 million), up from €351 million (£285 million) in 2008.

Mr Reithofer added: 'Despite the economic crisis, we continued to invest in our future. First off, we invested in new technologies such as hybrid and electric motors as well as Efficient Dynamics, an area in which we managed to extend our lead further. We have also invested in our production plants.'

During 2009 and 2010 BMW is investing more than €1 billion (£900 million) in its German factories and will have invested around $750 million (£493 million) at its US plant.

Mr Reithofer said: 'Growth markets will increasingly be found further east. We have already announced China as a production location. We are going to expand our capacities in Shenyang from a little over 41,000 to 100,000 units a year.'

With further investment of €600 million (£543 million) production at Shenyang will increase eventually to 300,000 cars a year.

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