BMW AG has been reported to forecast its 2010 sales growth by not more than single digit percentage. This is in spite of outperformed sales in the first five months of the year with a 14%-15% growth. The projections are reported to have been set assessing the tougher comparatives and global fiscal changes.
At the Automotive News Congress in Bilbao, Ian Robertson who heads the sales and marketing has reportedly said that the company remains “cautious” as in the remaining second six months in year will notice year-over-year comparisons. While the sales have recovered in 2009, Robertson has stated that several governments across the world are presently enforcing fiscal reforms and hence, the “market position is likely to change in the days to come.
The BMW, as per Robertson’s claims, is doing well in China and has raised its China sales forecast in April. The BMW group, is rapidly expanding in US and is likely to become the largest car exporter in that market. Commenting on the new currency flexibility that has come into affect in China, Robertson has reportedly said that the company is focusing on raising its natural hedging around the globe. He further added that currency is much more volatile than ever and hence the only real solution would be to invest, manufacture, or purchase components in the local currencies of the car market.