Chasing after a sales record and a 10 percent rise in pretax profit for 2014, BMW looks to increase output at the automaker’s Spartanburg, S.C. plant.
Reuters reports the plant is undergoing the necessary work needed to increase annual production of the automaker’s X Series from 300,000 to 350,000, with BMW chief executive Norbert Reithofer explaining that the U.S. market was one of great potential; thus, the plan to increase capacity. This would be in addition to the 400,000 units BMW aims to assemble in China after necessary investments raised capacity from 300,000 a year ago.
Though Reithofer remained mum on exact figures for how many of the SUVs will exit Spartanburg, as well as whether or not the automaker will introduce the X7 large SUV, he reiterated BMW’s goal of selling over 2 million units this year, having come close with 1.96 million in 2013. He also expects “group profit before tax to rise significantly” this year in spite of “ongoing volatile business conditions.” BMW COO Friedrich Eichiner later clarified Reithofer’s statement, claiming the figure to be “somewhere in the range of a high single-digit and a double-digit amount.”
Augmenting the expanding production, 12 new models are set to debut in the second half of 2014, including the 2 Series, 2 Series Active Tourer, and the i8.