BMW on track to success

BMW AG's CEO Norbert Reithofer, has stated that the company will reach its pretax target (as well it's earnings and sales targets) for profits of 4 billion Euros ($5.07 billion) for the financial year, adding that half of the pretax growth that was projected for 2006 was from special gains of around 475.65 million which was linked to the sale of the Rolls-Royce Group PLC earlier in 2006.

BMW posted a previous year's pretax profit of 3.29 billion euros ($4.17billion)

Sales for the Mini brand were hampered by a move to refit its production plant in Britain.

The sales of Mini was slowed down by a move to refitting its production plant in Britain. 

"I'm optimistic that the sales decline this year will be lower than
the expected 20,000 units," he stated, stating that orders at the brand
were not "just good, but very good."

Vehicle sales in September had increased and that sales for the 9 month period of all its brand would be higher compared to the previous year.

BMW shares remained unchanged at 41.74 euros ($52.99)

 

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