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BMW and Porsche sales up, GM talks to unions about restructuring

BMW and Porsche sales up, GM talks to unions about restructuring
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For the tenth month in a row, the German carmaker BMW has reported increased sales.

Deliveries in November were up by 7.3% compared with the same month last year. Sales of the Mini were even better, they rose by almost 9.4%. BMW said it expects to report record earnings this year, but investors remain worried about the effects of the weak dollar on turnover. Porsche has reported it sold 7% more cars in the four months up to the end of November and revenues rose by 4%. The world’s most profitable car maker said demand remains strong for its 911 sports car and the luxury Cayenne 4×4. Sales of the Boxster, which has just been replaced by a new model, fell 47%. The company also said it is spending “a lot” of money to develop new models and predicted sales could reach 100,000 vehicles a year within the next two to three years. Meanwhile the world’s biggest carmaker, General Motors, has been in talks with its unions about the group’s major restructuring. GM is looking to cut as many as 12,000 jobs in Europe and employee representatives said the company has agreed to avoid involuntary redundancies or closing any plants, but a GM spokesman said not there was no pledge to keep its European plants open indefinitely.