MUNICH -- BMW forecast it would reach its target of annual sales of 2 million cars four years earlier than planned.
BMW delivered 1.67 million cars last year. The automaker expects to surpass the 2 million vehicle mark in 2016, including its Mini and Rolls-Royce brands, without profitability suffering as a result, the company said today at its annual press conference.
Pretax profit this year will probably beat 2011's 7.38 billion euros ($9.72 billion), the company also said.
"We are targeting new highs in sales volume and pretax earnings for 2012," CEO Norbert Reithofer told reporters today. "We are off to a promising start" with car sales in the first two months of the year at an all-time high, he said.
To accelerate growth, BMW aims to expand its reach further into emerging economies, coining the term "BRIKT" markets for Brazil, Russia, India, South Korea and Turkey.
BMW does not include China among the list, since it already sells more cars there than in any other country except the United States and Germany.
"2012 will be a decisive year for the further internationalization of the BMW Group," Reithofer said.
"We are increasing our production capacity in China, the USA, South Africa and India, while at the same time evaluating potential production locations in the BRIKT markets."
BMW plans to build a new factory in Brazil and will add a second plant in China this year.