Bayerische Motoren Werke AG aims to boost sales to more than 2 million a year by 2020 by widening the 6-series and Mini model lines as well as bringing in a battery-powered car for city driving.

BMW, which sold 1.29 million cars last year, is trying to fend off competition in the luxury car segment from Volkswagen (VLKAY) and Audi, Bloomberg News reported.

"The big push in new models, entering new segments comes after 2012," BMW's CEO Norbert Reithofer told Bloomberg News. "If I look forward to 2020, then we have to think about additional capacity."

The push for higher sales may require the company to build an extra factory and expand existing facilities, Reithofer said.

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Ronald Tucker

BMW-Branch, Manning, and Ward, Super Bowl Most Valuable Players has the same last name initials as Bayerische Motoren Werke AG. Deion Branch, MVP Super Bowl XXXIX, Peyton Manning, MVP Super Bowl XLI and Hines Ward, Super Bowl MVP XL. The ultimate sporting event with the largest global viewership. BMW once had a a slogan "The Ultimate Driving Machine" that has stayed relevant.

September 07 2010 at 8:05 PM Report abuse rate up rate down Reply