FRANKFURT - BMW said it could still achieve earnings before interest and taxes (EBIT) amounting to 8 to 10 percent of revenue at its core automotive business next year, a magazine reported.
BMW first announced in September 2007 that it planned to achieve this EBIT margin at its automobiles segment in 2012, but recent fears of a recession in western developed economies and a hard landing in China have left some investors skeptical about further growth.
Finance chief Friedrich Eichiner told German weekly business magazine WirtschaftsWoche in comments published on Saturday that the "margin of 8-10 percent" remained his target for 2012.
Eichiner told Reuters on Friday on the sidelines of the premiere of its latest 3 series that Chinese luxury car sales would continue to rise next year.
Speaking to WirtschaftsWoche, Eichiner also reaffirmed this year's forecast for sales of over 1.6 million vehicles and an automobiles segment EBIT margin of more than 10 percent.
"We would achieve this even if conditions were to worsen, which we currently do not expect," he was quoted as saying.