BMW plans for expansion, hire 2,000 people
According to recent progressions in Automobile World, the German luxury carmaker BMW is planning to expand their production by establishing two new auto manufacturing units in the market. It is said that company wants to have an edge over Volkswagen AG's Audi.
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At the annual meeting of BMW’s shareholders in Munich, CEO Norbert Reithofer said that company is searching sites for one factory in Brazil and for another site, the countries like Russia, India, South Korea or Turkey are being considered.He further said that company wants to keep an edge over their competition in premium segment like BMW 5 Series and Rolls Royce, and since the people in the above mentioned countries are seeking more individual mobility, the prospects are quite high.
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If sources are believed, Bayerische Motoren Werke AG is considering the expansion in budding markets with an idea of guarding and acquiring an edge over Audi. As per speculations Audi intends to surpass BMW as the top luxury-car by 2015. Furthermore, BMW's JV manufacturing unit in Shenyang, China, is increasing the investment to 1 billion euros ($1.42 billion) from 560 million euros.Moreover, BMW is also considering the investment of 2 billion Euros in its German units and with an idea of expansion, company is adding machinery for manufacturing the X3 SUV in a plant in Chennai, India.
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According to the insiders report, on the basis of 2010 output, BMW is going to pay a wholesome amount as profit-sharing bonus to its employees. In other words company will pay an average of 5,840 Euros, to its workforce. Furthermore, BMW also confirmed its aim of amplifying the profit figures and sell 1.5 million plus cars this year. As per current profit figures, BMW topped the chart with a profit share of 4,462 euros per car on average, the second position is taken by Mercedes Benz with 4,145 Euros, followed by Volkswagen’s Audi with 2,981 euros.
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Reithofer also said that BMW is planning to hire headcount of 2,000 so as to support the expansions.