BMW predicts strong sales will power its third quarter results

STRONG unit sales will power BMW’s third-quarter results, the world’s biggest premium carmaker said yesterday, adding that a seasonal slowdown it had expected was not as strong as it had forecast.

“We expect our sales performance to drive our results in the third quarter,” chief financial officer Friedrich Eichiner said in the text of a speech prepared for the company’s capital markets day in Beijing.

BMW’s car sales volume was set to rise by some 10 per cent to more than 1.4m units for the full year, Eichiner said.

“We also forecast a full-year EBIT (earnings before interest and tax) margin of more than five per cent for the automobiles segment,” he added.

BMW is aiming to become the strongest premium brand in China.