BMW raises sales forecasts for 2010 sharply

13th July 2010, Comments 0 comments

The world's leading luxury car maker, BMW, hiked its 2010 forecast for sales and earnings on Tuesday, saying that improved conditions on the global auto market had boosted its outlook.

The firm said it expected to sell more than 1.4 million cars this year, an increase of around 10 percent on its previous forecast.

"Based on this much improved outlook, the BMW group expects full-year profit before tax to rise more sharply than previously forecast," the firm added.

However, the company also warned that its bullish prediction was dependent on the economic environment remaining favourable.

"Given that numerous economic risks remain in the second half of the year, the new outlook is based on the condition that the economic recovery continues and that general business conditions are not significantly dampened," it said.

© 2010 AFP

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