BMW predicts better sales and earnings for 2010 on the back of an increase in sales

There is news that BMW is raising its sales figures for 2010 and also it’s earning forecasts for the year. This has been due to the better than expected sales of its cars in China combined with the robust demand for BMW AG’s new 5 series sedan.

Buoyed by the good performance, the German luxury car maker has predicted an increase by 10 percent for their sales in this year. This translates to about 1.4 million cars and SUVs. Their estimates have it that the increase in operating margin in the automotive unit would be 5 percent. Economic recovery in Europe and the demand in China has been the main reason for the increase in sales of the Daimler AG’s Mercedes-Benz and Volkswagen AG’s Audi.

Also, BMW stocks are the best to be picked up right now as per John Buckland, an analyst at MF Global UK Ltd. BMW has risen by 7.9 % to 41.96 Euros in Frankfurt when trading closed. This is the sharpest rise since Sept 9, 2009. At 1:16 the stock traded at 41.81 Euros which puts the car maker at a value of 26.7 billion Euros or $33.6 billion.

Source: 4wheelsnews