Strong Unit Sales to Drive BMW Q3 Results
FRANKFURT - BMW AG expects strong unit sales in the third quarter to drive results, with an expected seasonal slowdown having less of an impact than forecast, reported Reuters.
"Our car sales volume is set to rise by some 10 percent to more than 1.4 million units for the full year," Chief Financial Officer Friedrich Eichiner said in the text of a speech to investors on Thursday.
"We also forecast a full-year EBIT (earnings before interest and tax) margin of more than 5 percent for the Automobiles segment," he added.
The group's aim is to become the strongest premium brand in China "especially with respect to brand awareness and customer satisfaction," he said.
Currently, the BMW Group is the number two premium manufacturer in the Chinese market, with a market share of 22 percent, Eichiner said.
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