German carmaker BMW expects its annual unit sales growth to average 5-7 per cent over the long term, chief executive Helmut Panke said today.
"When you look at the long-terms sales growth...statistically, historically, BMW will have an annual growth rate of between 5 and 7 per cent," he said.
He reiterated that the 14 per cent unit sales growth BMW generated in the first two months of 2006 could not be sustained over the whole year because comparisons will get increasingly hard, given the launch last year of updated 3-Series cars.
Chief financial officer Stefan Krause said BMW will focus on using its excess cash to finance internal growth, especially in the premium car segment.
"The main priority remains to use that cash to grow our business," he said when asked about BMW's strategy for investments versus paying higher dividends, more share buybacks or adding to pension contributions.