BMW Aims to Boost Sales to 2 Million Units a Year
Sep 7th 2010 7:46AM
Updated Sep 7th 2010 7:50AM
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.