BMW sees strong chance of building a plant in Brazil

2nd August 2011, Comments 0 comments

German luxury car maker BMW said Tuesday there is a "high probability" that it will build a factory in Brazil, one of the most dynamic auto markets in the world.

A decision will be made later this year, chief executive Norbert Reithofer told a news conference after the group posted a second-quarter net profit of 1.81 billion euros ($2.58 billion), more than double the year-earlier figure.

Reithofer said BMW's overall output currently exceeded capacity, putting the level at 102 percent, and added that it might also significantly increase capacity at its plant in the US state of South Carolina.

In the statement on BMW's results, Reithofer said: "The first half of 2011 has been the best six-month period in the BMW group's history."

It has been a major beneficiary of strong demand for luxury automobiles in emerging markets, especially in China and other parts of Asia.

© 2011 AFP

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