BMW Chief Exec Norbert Reithofer has revealed that the company posted a sales rise in November, as previously anticipated, and confirmed that full-year sales are expected to come in between 10% and 15% lower than in 2008.
"The sales rise in November was in the high single-digit percentage range," Reithofer told reporters during a press briefing in Munich. He said he views BMW's anticipated decline for the full year as "moderate" considering the steep market slump. Demand for luxury cars was particularly hard-hit by the economic downturn.
According to previous statements, the world's best-selling luxury carmaker expects to remain profitable in 2009, despite the woes embroiling the industry, if the sales decrease compared with the prior year is in the expected range of between 10% and 15%.
The Munich-based firm expects that the new X1 and 5-Series Gran Turismo will foster sales momentum, with demand being fueled further between 2010 and 2012 when the new versions of high-selling models are set to hit showrooms.
"The premium segment still has good growth potential," Reithofer said.
He also said the premium segment is expected to grow slightly faster than the overall car market in coming years, adding that within the premium segment there is growth potential especially in the area of compact premium cars and large luxury vehicles.
Source: Wall Street Journal
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