BMW 2003 Annual Report Download - page 30
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29
Outlook: Automobile sector expected to
revive in 2004
Prospects for the world economy for the year 2004
have improved during the past few months. On the
basis of strong growth trends in the USA and Asia, the
BMW Group anticipates that global economic re-
covery will continue and gain in strength as the year
progresses. As far as the euro region is concerned,
the gradual recovery should pick up momentum; it is
not expected, however, that the full year will benefit
from a strong upturn.
Against this background, the BMW Group an-
ticipates a modest revival in worldwide car sales.
Significant momentum should come from the US car
market, whereas it is predicted that markets in
Europe and Japan will only see small increases in
car registrations. The car markets in Eastern Europe
and South-east Asia should continue to develop
dynamically in 2004. The fastest growing market in
2004, with double-digit growth rates, will again be
China.
The BMW Group anticipates that the premium
segments of the world’s automobile markets in
2004 will again perform better than each of the rele-
vant markets as a whole. With its premium brands
BMW, MINI and Rolls-Royce and numerous new
models, the BMW Group will continue to benefit
from this development.
Positive outlook for 2004
The BMW Group will carry through its product and
market offensive in 2004. With the introduction of
the BMW 6 Series Coupé and Cabrio, the BMW X3,
the BMW 5 Series Touring, the BMW 1 Series and
the MINI Convertible, the BMW Group will be taking
further important steps to expand its product range.
The BMW Group anticipates that it will again
be able to achieve sales volume growth in 2004;
record levels are expected for all three brands. It is
forecast that demand for BMW Group cars will pick
up sharply, in particular in Asia and the USA, and
also in some of the European markets. In particular,
the positive feedback received after the launch of
the BMW 6 Series Coupé and the BMW X3 in Janu-
ary 2004 so far underpin this assessment of the
situation by the BMW Group.
The Group will continue on its successful course
and demonstrate its underlying strength, with the
aim of reporting record revenues and earnings figures
for the financial year 2004.