VW, BMW Forecast Sales Growth as German Carmakers Lead Recovery |
| BusinessWeek - Mar 11, 2010 |
Volkswagen AG plans a second consecutive record year for deliveries and BMW, helped by the new 5-Series sedan, aims for an increase in sales as China, Brazil and the U.S. propel a recovery in the global car market.
Volkswagen’s car, sport-utility vehicle and commercial-van sales rose 27 percent in the first two months of 2010, outpacing industry growth of 20 percent, Chief Executive Officer Martin Winterkorn said in Wolfsburg, Germany-based today. Munich-based Bayerische Motoren Werke AG said it intends to defend its position as luxury-car market leader as deliveries increase.
The 13-company STOXX 600 Automobiles & Parts Index rose 1 percent at 4:15 p.m. in London, the biggest advancing group in the Stoxx 600 Index. Global auto markets may expand 2 percent to 53.3 million vehicles in 2010 following a 6 percent contraction last year, according to researcher IHS Global Insight.
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- Posted: 2010-03-11 10:52:45
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