BMW predicts rising sales in 2010
The Munich-based carmaker reported a 17.7% rise in pre-tax profits for 2009 to €413 million, compared to €351 million in 2008.
However, due to a higher rate of tax, net profit dropped to €210 million – down 36.4% on the €330 million achieved last year.
'We performed well in 2009 despite difficult market conditions worldwide. Our cost management and efficiency improvement measures had a positive impact, even though the effects of the worldwide financial and economic crisis were still being felt,' said Norbert Reithofer, chief executive.
Within the Automobiles segment, a reduction in units sales brought about by the global recession led to a pre-tax loss of €588 million, compared to a pre-tax profit of €318 million last year.
In total, the BMW Group sold 1.29 million BMW, MINI and Rolls-Royce brand vehicles in 2009 – a drop of 10.4% on the 1.44 million units in 2008.
Strong performances were seen in the emerging markets of China (90,536 units/+37.5%), Brazil (6,398 units/+118.8%) and India (3,619 units/+24.4%), with new sales records achieved in all three markets – and BMW says it plans to grow its sales here again in the current year.
The group said that it expects to grow profitably in 2010, helped by new models – including the new BMW 5 Series – and gradual economic recovery.
'We are heading into the new year cautiously optimistic. Our new models will provide us with a tailwind over the course of the year. We fully intend to remain the world’s leading provider of premium cars in 2010 and plan to increase sales within the single digit percentage range to over 1.3 million vehicles,' added Mr Reithofer.For more of the latest industry news, click here.