BMW plans to build 2 new factories in emerging markets

BMW is planning to build two new factories to meet the demands for emerging  markets. One will be located in Brazil, and the other could be build in either Russia, India, Korea or Turkey. This was confirmed by BMW CEO Norbert Reithofer at the company’s annual shareholders’ meeting in Munich yesterday.

BMW not only plans to meet the demands for their premium cars in these emerging markets, they also plan to significantly increase their sales for 2011. The company confirmed its goal of increasing profit this year and selling more than 1.5 million vehicles this year. In 2010, BMW Group sold 1,461,166 units of BMW, Mini and Rolls-Royce cars. The BMW Group’s record high sales happened in 2007, when the brand sold 1,500,678 units of its three brands.