Norbert Reithofer News
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Bayerische Motoren Werke AG Chief Executive Officer Norbert Reithofer told his fellow Germans to set aside their infamous fear of the unknown and embrace electric-vehicle technology.
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Bayerische Motoren Werke AG, the world’s biggest maker of luxury cars, reported first-quarter profit that beat analyst predictions and kept its 2013 forecast as sales of new 3-Series models helped offset investment costs.
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Bayerische Motoren Werke AG, the world’s biggest maker of luxury cars, said its success amid Europe’s auto-market contraction shows the importance of setting up production and sales that can weather an economic crisis.
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With the yen weakening and Europe’s debt crisis spreading, Volkswagen AG and its German peers are planning to spend more than $25 billion by 2017 to expand production outside their home region and insulate themselves from currency convulsions.
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Bayerische Motoren Werke AG widened its luxury-auto sales lead over Audi AG last month on demand for the 3-Series sedan and X1 sport-utility vehicle, while Daimler AG’s Mercedes-Benz brand gained momentum with new small cars.
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Bayerische Motoren Werke AG and Daimler AG are shrugging off the European auto-market decline as sales growth in China and the U.S. pushes their luxury-car production to maximum rates.
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Bayerische Motoren Werke AG extended Chief Executive Officer Norbert Reithofer ’s contract to 2016, leaving him to steer the largest luxury-car maker to its goal of boosting deliveries by half in the next decade.
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Bayerische Motoren Werke AG , the world’s largest maker of luxury autos, will expand the BMW and Mini model ranges to boost annual sales 55 percent over the next decade and fend off Volkswagen AG and Daimler AG.
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Bayerische Motoren Werke AG, the world’s largest maker of luxury cars, plans to hire Peter Schwarzenbauer, the former Audi AG sales chief, as part of an effort to tighten its grip on the premium segment’s top spot, three people familiar with the matter said.
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Volkswagen AG and Bayerische Motoren Werke AG predicted a “difficult” 2013 as the European auto market contracts, vehicle prices in the region drop and growth in China slows.
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