FRANKFURT -- Luxury carmaker BMW AG expects its forecast for a rise in 2004 unit sales to be reflected in this year's profits, its chief executive was quoted as saying by a German newspaper on Wednesday.
The Munich, Germany, group sold 1.1 million cars last year and aims to raise its unit sales to 1.4 million a year by 2008.
"We expect that a further rise in unit sales will also be reflected in sales and earnings," BMW Chief Executive Helmut Panke told financial daily Boersen-Zeitung in an interview.
"It would not be sufficient to remain at the previous year's earnings level," he added.
This month, Panke told Reuters that BMW would match 2002's profit of 3.3 billion euros ($4.2 billion) in 2003. BMW releases it 2003 results March 11.