BMW Q3 vehicle sales beat forecast as X1 SUV wins buyers
BMW has a target of selling 2 million cars and SUVs by 2020, and is planning on 10 percent growth in deliveries this year to 1.4 million vehicles. The Munich-based manufacturer, which is also developing a new front-wheel-drive model, will overhaul the 1-Series compact and 3-Series sedan in the next two years, providing momentum for sales independent of economic developments, Reithofer said today.
The front-wheel-drive technology, to be installed in BMW- brand models, will also be used in the Mini small-car lineup, Reithofer said. Sales volumes for the vehicles could total 700,000 to 1 million vehicles a year, he said.
BMW cooperates on engine technology for the Mini brand with PSA Peugeot Citroen, Europe’s second-biggest carmaker, and it’s forming a purchasing partnership with Daimler AG’s Mercedes- Benz, the No. 2 luxury automaker worldwide.
BMW doesn’t need a partner for the front-wheel-drive platform because it can generate economies of scale on its own, the CEO said. There are also no talks with Peugeot about expanding their partnership to carbon-fiber parts, he said.
Reithofer didn’t specify sales figures for September or the quarter. Group deliveries in September 2009 totaled 122,354 vehicles. Sales increased 9.1 percent in July 2010 and 13 percent in August.
The CEO declined to comment on financial expectations for the third quarter, saying he hasn’t seen internal figures yet.
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