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BMW CHAIRMAN FORECASTS BEST SALES YEAR EVER, CONTINUED FINANCIAL PERFORMANCE Worldwide Sales Expected to Exceed 800,000 Due to Strong Sales in the U.S.
Mon Sep 18 12:00:00 CEST 2000 Press Release
The BMW Group is well on its way to recording its best sales year in history, according to Prof. Joachim Milberg, chairman of BMW AG, due in part to the strength of the U.S. market and record sales here and abroad.
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Martha McKinley
BMW Group
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Martha McKinley
BMW Group
Washington, D.C., September 18, 2000 - The BMW Group is well on its way to
recording its best sales year in history, according to Prof. Joachim Milberg,
chairman of BMW AG, due in part to the strength of the U.S. market and record
sales here and abroad.
Prof. Milberg said the BMW Group is well positioned to sell more than a
record-breaking 800,000 vehicles worldwide, and continue the strong performance
of the company after the recent re-orientation of the BMW Group. For the
U.S., Milberg noted, BMW just completed its best month ever bringing
year-to-date sales to 120,763 vehicles, up 15 percent over the previous
year. August sales increased 22 percent, to 16,812 for the best month ever in
this market.
Demand for well-built, well-engineered high performance vehicles has never been
stronger, Milberg told a private gathering at the Corcoran Gallery of Art on
September 16. "This extraordinary worldwide success of our products also
drives our financial performance. We expect that the current year will show
better results than our best year ever," he said.
The performance of BMW shares continues to climb, Milberg said, and since the
beginning of the year, we have seen our share value increase by 30
percent.
Milberg was in the U.S. over the weekend for the re-naming of the BMW Center
for German and European Studies, within Georgetown's Edmund A. Walsh School of
Foreign Service. Established in 1990 as the Center for German and European
Studies, and funded for its first ten years with support from the German
government, the new name was revealed at a private gathering Saturday night,
September 16 to recognize BMW's contribution to the university and its
commitment to cross-cultural ties. In 1996, BMW AG donated $10 million to
establish an endowment for funding the Center when the German government's
financial commitment ended earlier this year.
"In addition to our financial commitment, we feel that we are also making an
intellectual investment that will prove to be of even greater value in the long
run." Milberg told a private gathering at the Corcoran Gallery of Art on
September 16. "In short, that means that we believe strongly in investing in
people and in their education."
BMW IN AMERICA
BMW of North America, Inc. was established in 1975. Since then, the company
has grown to include marketing, sales and financial service organizations in
the United States; a South Carolina manufacturing operation; DESIGNWORKS/USA,
an industrial design firm in California; a technology office in Palo Alto and
various other operations throughout the country. BMW is represented in the
U.S. through a network of more than 340 car, 315 Sports Activity Vehicle and
160 motorcycle retailers. BMW US Holding Corp., the Group's headquarters for
North, Central and South America, is located in Woodcliff Lake, New Jersey.
Information about BMW products is available to consumers via the World Wide Web
on the BMW homepage. The address is: http://www.bmwusa.com.