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Tags: EU | Germany | BMW

BMW Expects Higher Profits and More Electric Cars

BMW Expects Higher Profits and More Electric Cars

Tuesday, 21 March 2017 08:38 AM

FRANKFURT, Germany (AP) — German automaker BMW is forecasting increased sales and profits this year as it begins the rollout of some 40 new models and aims to sell 100,000 electric-powered cars.

The company said Tuesday it expects "a slight increase" from last year, when it had 94.2 billion euros ($101.7 billion) in revenues and net profit of 6.9 billion euros. It sold 62,000 electrics.

Munich-based BMW AG has invested heavily in electric vehicles even though they remain less than 1 percent of the global market, saying they're the key to future sales. The company predicts electric vehicles will be 15-25 percent of the market by 2025.

CEO Harald Krueger said at the company's annual news conference that that "our goal is sustainable mobility. There's no turning back."

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
German automaker BMW is forecasting increased sales and profits this year as it begins the rollout of some 40 new models and aims to sell 100,000 electric-powered cars.The company said Tuesday it expects "a slight increase" from last year, when it had 94.2 billion euros...
EU,Germany,BMW
127
2017-38-21
Tuesday, 21 March 2017 08:38 AM
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