BMW aims 2011 profit growth on sales of X3 and 6 series models

BMW makes it a goal to raise profit in 2011 to follow through the record results last year. They plan to make it possible through the revamps of the the BMW X3 and some models from the 6 Series fleet. To meet the demand, BMW will add production in China and India. BMW will manufacture the BMW X3 in their Chennai, India plant, beginning in the second quarter of 2011. A new factory in China will produce the BMW X1 in 2012. BMW are still considering a number of production sites in South America as well.

In a press conference today, BMW CEO Norbert Reithofer said that they anticipate 2011 earnings before interest and taxes at its auto division will beat last year’s margin of 8 percent in 2011 and 10 percent of sales in 2012.  BMW said today at a press conference in Munich.

“Handling the level of demand has been a tour de force for our international production network,” Reithofer said. “At the end of the year, we had about 100,000 units more on the books than originally planned.”

BMW employs almost 95,500 people and plan to hire about 1,300 people this year to support development, purchasing and sales. Building more plants and adding employees to increase production are all part of BMW’s goal of selling more than 2 million cars and SUVs annually by 2020. The creation of the “i” sub-brand is also a part of this plan.