BMW is a little more bearish on the growth of the overall market, but is calling for luxury sales to increase by more than 8 percent.
"Around the world, we see market growth of 4 percent and more than 8 percent in the premium market," said Friedrich Eichiner, BMW's finance chief. Most of that increase will be account for by the United States and China, while European demand is expected to remain flat.
BMW says it will stay committed to the European market in 2012, but will expand production outside of the continent - specifically in Latin America, India and China.
"We will make a final decision on Brazil in the coming weeks. After that we could look at other sites. It is also possible that we expand existing plants," Eichiner said.
BMW has targeted 2 million sales by 2020, up from its current level of 1.6 million units.
1.'BMW sees 2012...' view