FRANKFURT -- BMW said on Wednesday that unit sales rose nearly 12 percent in June and repeated its 2005 targets despite pressure from high oil prices and the U.S. dollar.
BMW CEO Helmut Panke said he expected profit this year to be at about the level seen in 2004. "We are sticking to that. We're not going back," Panke said on Tuesday evening in remarks embargoed for Wednesday.
Munich-based BMW turned in record pretax profit of 3.55 billion euros ($4.22 billion) in 2004.
June sales volumes rose almost 12 percent, while sales in the first half of this year rose about 9 percent, Panke said.
BMW was sticking to its forecast for sales for the full year to rise by a high single-digit percentage, he said.
Panke said the German automobile market was beginning to show signs of life again after years of lethargy.
The market's new car registrations rose 1.1 percent in the January to May period and a rise of this order should be possible for the year, he said.
"We expect slight, not excessively large growth in Germany," he said.
For the European Union car market, Panke said he expected a drop of about 1.2 percent to 1.3 percent in new registrations.