New X1, 5 Series Boost BMW Q3 Sales
PARIS - BMW said deliveries in the third quarter beat its forecasts as the new X1 sport-utility vehicle and revamped 5-series sedan won customers, Bloomberg reported.
Sales of BMW, Mini and Rolls-Royce cars and SUVs rose about 16 percent in September to cap a “very good” three-month period, CEO Norbert Reithofer said.
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.
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 automaker, 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 at the Paris auto show.
The front-wheel-drive technology will be installed in BMW-brand models and 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 doesn't need a partner for the front-wheel-drive platform because it can generate economies of scale on its own, Reithofer said.
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 →