BMW sold more than 100,000 cars in August

German car maker BMW has sold more than 100,000 cars in August, more than it has ever sold in that month, paving the way for the company to reach its 2011 sales target of more than 1.6 million, the group's financial chief told a German newspaper.
"We managed to increase our sale by almost 7 percent to clearly more than 100,000 vehicles. That is a new record for an August month," Chief Financial Officer Friedrich Eichiner was quoted as saying by Frankfurter Allgemeine Sonntagszeitung. In a pre-publication the paper said Eichiner saw no reason to lower its 2011 sales outlook of more than 1.6 million cars.
"After the first half-year we are well on track to reach our target," he said adding he still expected an operating margin of more than 10 percent for 2011. For 2012 the group targets an operating profit margin of between 8 and 10 percent in its automobile segment.
Eichiner's remarks come after the German automotive association VDA on Friday raised its 2011 outlook for the car market in Europe's biggest economy, saying it now sees more than 3.1 million new car registration, up from 2.92 million last year. BMW said on Thursday sales in the United States were up 14.6 percent in the first eight months of the year.