BMW expects EBIT to exceed 8% in 2011

According to a report from Geshi Auto, a foreign media report, BMW, the world's largest luxury car manufacturer, said that the company plans to refresh its 2010 EBIT (Earnings Before Interest and Earnings) margin by 8%. The current market demand for improved X3 sport utility vehicles (SUVs) and BMW 6 series cars will help the company to achieve this plan.

Norbert Reithofer, BMW’s CEO, stated that “we plan to further improve the Group’s profitability in 2011 and increase our EBIT margin to 8 for our automotive business. More than %. BMW’s goal in 2011 was to increase the annual sales of automobiles to more than 1.5 million vehicles. At the same time, the company also plans to increase BMW, Rolls-Royce and Mini brand vehicle sales to historical highs.”

Norbert Reesef

BMW said that in 2010, the company’s net profit was 3.23 billion euros (about 4.47 billion US dollars), which refreshed the company’s historical record, equivalent to more than 15 times of net profit in fiscal year 2009.

It is reported that in 2010 BMW's operating income rose from 50.681 billion euros (about 70.46 billion US dollars) in 2009 to 60.477 billion euros (about 84.1 billion US dollars), an increase of 19.3%. Among them, the automotive business generated operating revenue of 54.137 billion euros (about 75.3 billion US dollars), an increase of 23.8% from the 37.737 billion euros (about 60.8 billion US dollars) in 2009.

In addition, BMW Motors also stated that the investment return rate of the automotive business in 2011 is expected to exceed 26%.