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BMW: China and India helping annual sales

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BMW expects group sales to grow in 2012 after a 14% year-on-year increase in February, the German premium carmaker's CEO said on Tuesday, as a young model range and growth in China and India help offset sluggish European demand.

"January and February went well" in selling terms, Norbert Reithofer told reporters at the Geneva Auto Show.

 

 

"Our young model portfolio should lend us additional momentum this year," he added.

BMW expects the European market at best to stagnate in 2012 or to shrink by about 5% in a "worst case" scenario, Reithofer said.

The carmaker's own sales may post double-digit growth in China and "high" single-digit growth in North America.

"It's going to be an uphill battle in Europe this year," the CEO said.

The company is in talks with General Motors about future technologies, Reithofer added, without giving further details.