BMW Q3 Sales Were Higher than Expected
PARIS - BMW AG sold more cars in the third quarter than it had expected, said CEO Norbert Reithofer.
"August turned out to be stronger than we had anticipated and it looks as if that trend continued in September," Reithofer told reporters at the Paris auto show on Friday.
According to BMW, its group sales rose 16 percent in the month of September, and it posted double-digit percentage unit sales growth in the first nine months of this year.
"If you just look at volumes, the third quarter was very good and above our expectations," Reithofer said.
He said he had not yet seen earnings figures for the period.
He also said that BMW's upcoming front-wheel drive architecture should have significant economies of scale, with volumes that could reach 700,000 to 1 million units per year.
"There will also be a front-wheel drive BMW model using this architecture, and this model does not yet exist in our current BMW brand product range," he said.
Reithofer also said he did not plan to step in rival Mercedes' footsteps by equipping BMW's top-of-the-line 7-series model with a four-cylinder engine, usually reserved for compact cars.
"Our 7-series customers are very much accustomed to our in-line six-cylinder engine, so we are not considering at the moment any four-cylinder engines for the 7 series."
More Industry

World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →