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BMW CEO to present new strategy on Thursday
MUNICH (Reuters) -- Norbert Reithofer,CEO of BMW, will present his new strategy for the company for the coming years on Thursday, a source familiar with the matter told Reuters today.
Under Reithofer, the company has put its strategy under examination for the first time since 2001.
German magazine Capital reported in a preview of a story to be published on Thursday that BMW aims to increase sales of its Mini brand, BMW and super-luxury brand Rolls Royce to more than 1.6 million units from 1.37 million vehicles by 2009, a year earlier than planned. By 2012, at the latest, the company wants to sell 1.8 million vehicles. It aims to boost sales with a number of new models such as an estate based on its BMW 5 series, an SUV model of its British retro-car Mini, a smaller version of its Rolls-Royce, a small SUV "X1", as well as a BMW City model -- a compact car designed to be smaller than the BMW 1 to compete with domestic rival Audi's A1.
The company's motorcycle division plans to sell more than 150,000 units in three to four years, up from 100,000 in 2006. BMW declined to comment.
According to Capital, the management board of BMW aims to implement a rigorous efficiency programme in the car unit.
But despite higher raw material prices, a weaker dollar and higher development costs for new models, BMW has targeted a return on sales of more than 8 percent and a return on capital of more than 26 percent no later than 2012.
In 2006, the return on sales in the car division was 6.3 percent and in the first half of this year it was 5.5 percent. Return on capital in the past year was 21.7 percent.
Under Reithofer, the company has put its strategy under examination for the first time since 2001.
German magazine Capital reported in a preview of a story to be published on Thursday that BMW aims to increase sales of its Mini brand, BMW and super-luxury brand Rolls Royce to more than 1.6 million units from 1.37 million vehicles by 2009, a year earlier than planned. By 2012, at the latest, the company wants to sell 1.8 million vehicles. It aims to boost sales with a number of new models such as an estate based on its BMW 5 series, an SUV model of its British retro-car Mini, a smaller version of its Rolls-Royce, a small SUV "X1", as well as a BMW City model -- a compact car designed to be smaller than the BMW 1 to compete with domestic rival Audi's A1.
The company's motorcycle division plans to sell more than 150,000 units in three to four years, up from 100,000 in 2006. BMW declined to comment.
According to Capital, the management board of BMW aims to implement a rigorous efficiency programme in the car unit.
But despite higher raw material prices, a weaker dollar and higher development costs for new models, BMW has targeted a return on sales of more than 8 percent and a return on capital of more than 26 percent no later than 2012.
In 2006, the return on sales in the car division was 6.3 percent and in the first half of this year it was 5.5 percent. Return on capital in the past year was 21.7 percent.
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