German carmaker BMW on Wednesday said it expects a significant year-on-year increase in group profit in 2021 as it forecast a strong performance in all of its segments.
BMW, which also owns the MINI and Rolls-Royce brands, said it expects the automotive segment to record a solid year-on-year increase in deliveries, with EBIT margin for the segment expected to fall between 6% and 8%.
Around 90% of market segments will have fully electric models by 2023 and the BMW i4 model will be launched three months ahead of schedule, the carmaker said in a statement.
“The BMW Group has ambitious plans for 2021,” Chief Executive Oliver Zipse said. “We have started the new year with strong momentum and are aiming to return to pre-crisis levels as swiftly as possible – and go even further.”
BMW shares gained 2.2% in pre-market trading at Lang & Schwarz.
SOURCE: CNBC and REUTERS
