FRANKFURT, June 24 (Reuters) - BMW aims to sell 2 million vehicles annually by 2016, Germany’s Manager Magazin reported in its Friday edition, citing company sources.
Chief Executive Norbert Reithofer expects the upward trend to continue in subsequent years and sees a chance of global sales reaching as many as 2.5 or even 2.6 million vehicles a year by 2020, the magazine added.
To achieve this, the company would especially focus on the distribution of a new range of small car, it said.
Reithofer is also planning to open a number of new production plants — in eastern Europe, Mexico or the United States — including one with an annual production capacity of up to 250,000 vehicles, the magazine said, citing a BMW manager.
Other plants are reportedly planned in Russia and Brazil, while an existing plant in South Africa is being expanded.
A BMW spokesman declined to comment on the report, calling it mere speculation and pointing to earlier comments by Reithofer that he expects sales to surpass 2 million by 2020.
By 1034 GMT, BMW shares were trading 3.9 percent higher, outpacing all other stocks in Frankfurt’s 0.9 percent stronger DAX index . The STOXX Europe 600 automobiles and parts index was up 2.6 percent.
Earlier this week, a person familiar with Volkswagen’s (VOWG_p.DE) strategy told Reuters Europe’s largest carmaker’s premium car brand Audi aims to nearly double its sales to 2 million cars a year by 2020. (Reporting by Christian Kraemer and Josie Cox; Editing by David Holmes)