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German luxury automaker BMW announced yesterday that it had significantly increased its 2010 forecast for sales an earnings, explaining that improved conditions in the global automobile market had given its outlook a marked boost.

The firm has increased its forecast by about 10 percent, and now says it expects to sell more than 1.4 million vehicles this year.

A spokesperson from BMW explained, “Based on this much improved outlook, the BMW group expects full-year profit before tax to rise more sharply than previously forecast.” This translates to a profit estimate of more than five percent from core automaking activities.

Source: The Age

Filed under: BMW, Buying Trends, Economy by Mel