BERLIN—BMW expects to reach the higher end of its 7–9 percent margin target for the cars business and sees slight sales growth in 2023, chief financial officer (CFO) Nicolas Peter said in a roundtable on Monday.
Demand was recovering in China in the third quarter after lockdowns plagued the first half, the CFO said, describing it as a “rollercoaster” year in their largest sales market.
In Europe, order books were still full but demand was weak in Germany and the United Kingdom and stronger in France, Spain and Italy.
The luxury carmaker expected to hit its target of 10 percent fully electric sales this year at around 240,000–245,000 vehicles and could see that figure rising to around 400,000 next year, Peter added….