BMW's CFO Optimistic On 2003 Outlook

PARIS -September 26 Dow Jones reported that Bayerische Motoren Werke AG is upbeat about its outlook for 2003 and still expects to set a record in 2002 for sales and earnings, Chief Financial Officer Stefan Krause said Thursday.

"We are optimistic," Krause told Dow Jones Newswires in an interview at the Paris auto show. He declined to be more specific about 2003 as the cost of launching a handful of new models is an uncertain factor. It will also weigh on earnings.

With the new cars and the expected continued growth of the premium segment of the auto market, BMW expects vehicle sales to top 1.3 million by 2007, Krause said.

Although BMW Thursday increased its sales target for the Mini model in 2002, Krause said the German car maker is sticking to the company's goal to sell more than one million BMW and Mini vehicles this year. Last year BMW sold 906,653 cars.

New cars BMW plans to launch in 2003 include the luxury Rolls Royce, a new 5- Series, an X3 sport utility vehicle and a new 6-Series four-seat coupe and convertible.