(March 22, 2017) MUNICH, Germany — After reporting best-ever revenues and earnings figures for the seventh year in succession, the BMW Group intends to continue its course of sustainable and profitable growth, while also expanding its role as innovation leader. The company’s core business will be strengthened by the targeted addition of 40 new and revised models and continued work on the strategic areas of electric mobility and automated driving.

“Once again, we are targeting record sales volume, revenues and earnings in 2017,” said Harald Krüger, chairman of the Board of Management of BMW AG in Munich on Tuesday.

The BMW Group forecasts a slight increase in automotive segment deliveries to customers in the current financial year, which would result in a corresponding growth in segment revenues. Group profit before taxes is also expected to improve slightly.

“We intend to launch more than 40 new and revised models of our three premium brands on the market during 2017 and 2018. The new product offensive began successfully with the launch of the new BMW 5 Series in February, further raising the bar in the business sedan segment,” said Krüger.

Krueger is seeking to revitalize growth after sales slipped behind Mercedes-Benz for the first time in more than a decade in 2016.

Particular emphasis will be placed on the top end of the premium segment. By 2020, the BMW Group is targeting significant sales volume growth in this area with the addition of a number of new models, including the BMW X7, to complement the BMW 7 series.

“Leadership in innovation and sustainable profitability are the keys to our success. That’s why, we are fully focused on meeting the wishes and needs of our customers, with the aim of igniting their enthusiasm for mobility day after day with appealing products and services,” Krüger commented.

“Sustainable profitability and innovation leadership go hand in hand. Drawing on our underlying operational strength, we are therefore aiming to achieve an EBIT margin of between 8 and 10 percent in the automotive segment for the eighth year in succession,” stated Nicolas Peter, member of the Board of Management of BMW AG responsible for Finance.

“By maintaining operational performance at a consistently high level, while at the same time focusing on the areas that are becoming increasingly relevant for customers, we will continue to generate sufficient resources to finance the high upfront expenditure needed to shape tomorrow’s mobility.”