A Daily Briefing on Iran: German BMW takes Iran as a primary regional market

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Friday, May 13, 2005

German BMW takes Iran as a primary regional market

IranMania:

German automobile manufacturing giant BMW said that it forecasts sales to increase sales to over 13,000 units in the Middle East in 2005 and has picked Iran as one its primary regional markets in the region. READ MORE

The Internet site Iran economist.com quoted Bolumberg News as saying that the company's Middle East sales volume has increased four fold since 1994.

It quoted Chairman of BMW Helmout Planck as saying "we have very right prospects in selling our products in Iran, Iraq and Afghanistan and have decided to increase our exposure in these countries more than before." The company has also announced that the revenues dropped in the first quarter of 2005 by 11 percent primary due to significant hike in oil prices and rise in the Euro/Dollar exchange rate.