Dow Jones reports that BMW’s CEO Helmut Panke said on Monday that the company still expects 2005 net profit and pretax profit to come in at around last year’s level.
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At the same time, the company expects annual unit sales to grow by 9% in 2005, Chief Executive Helmut Panke said at the IAA in Frankfurt.
Panke also said the company has secured itself good U.S. dollar hedging positions for 2006.
The sales incentive situation on the U.S. market shouldn’t further worsen in 2006, Panke said.
BMW will begin its share buyback program relatively early this fall, Panke added.
