• May 16th 2006 at 4:32PM
  • 7
BMW is doing much better than the luxury carmaker had forecast. Speaking at the company's annual meeting, CEO Helmut Panke (right) revealed that the company will reach its 2008 target of 1.4 million in annual car sales a full year ahead of schedule, in 2007. He is now targeting 1.6 million units by 2010 - almost twice the company's unit sales in 2000.

Even without the windfall profits from the sale of the Rolls-Royce aircraft engine business earlier this year, BMW will book a record pretax profit of about $5.15 billion in 2006, driven by strong sales growth (up 13.9 percent in the first quarter) and efficiency improvements. All this despite the drag of a strong euro (vs. a weak dollar) and the rising cost of raw materials.

Now that's the kind of news a CEO likes to take to the annual meeting...

[Source: BMW]

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    • 1 Second Ago
      • 9 Years Ago
      They will not stay at the top with the arrogant way they position their product.

      Look at the stripper N52 engine, it ruins the whole I6 experience. Terrible intake sound, muted exhaust [no variable back pressure muffler], lack luster power [the old M54 were WAY old and underpowered]

      I could see BMW doing this in the 1-series, but the 3 series starts at $30,000 and this social engineering should not be at this price level.
      • 9 Years Ago
      Being a BMW car owner I am not impressed. While the latest of BMW editions posess high tech engineering they have progressed off the wrong design(as in ugly and feminine) path. With each successive generation these cars are increasing difficult to fix and maintain. In fact they are designed to be serviced exclusively by dealers' proprietary knowledge-base and tools. BMW may be one of the best driver's car but not the best keeper in the lot. Historically their reliability and BMW's accountability has been sorely lacking. The people who buy these new cars can afford to dispose these expensive cars every few years.
      • 9 Years Ago
      You are all jealous of how well BMW is doing, when DC's Mecedes, VW's Audi, Toytota's Lexus, etc are not doing as well.
      • 9 Years Ago
      Its all about product baby, good product good sales, lousy product (GM) lousy sales !!!
      • 9 Years Ago
      Too bad they couldn't be this successful when they were making attractive cars.
      • 9 Years Ago
      These days only arrogance can work. The more arrogance you have the more successful you are. Look at Rolls-Royce, bentley, aston martin. Full of arrogance. BMW is on right track. Keep up your arrogance BMW, you will be even more successful.
      • 9 Years Ago
      Hehe...Hanky Panke.
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