BMW Projects Rise In Car Sales

BMW AG BAMXY expects rise in car sales and pretax profit this year. BMW projects to sell more than 2 million cars in 2016. The company last week reported a 51% surge in its full-year net profit to EUR4.91 billion, and also announced its plans to lift its dividend to EUR2.30 per common share versus EUR1.30 per share. BMW's earnings before interest and taxes jumped 57% y/y to EUR8.02 billion. Its revenue climbed 14% to EUR68.82 billion. BMW shares closed at $31.23 yesterday.