November 11, 2015 / 12:06 PM / in 2 years

BMW targets annual motorcycle sales of 200,000 by 2020

A BMW emblem is pictured at the 2015 New York International Auto Show in New York City, in this April 2, 2015 file photo. REUTERS/Eric Thayer/Files

FRANKFURT (Reuters) - BMW (BMWG.DE), the world’s largest luxury carmaker, plans to boost annual motorcycle sales to 200,000 and lift revenue in that segment by 50 percent by 2020 by focusing on markets in Asia and South America, company executives said on Wednesday.

So far this year BMW has sold 120,000 motorcycles and sold 123,000 last year, earning revenue of 1.7 billion euros in 2014. That compares with group revenue of 80.4 billion euros.

“I am confident we will see a record year for our motorcycle business in 2015,” said BMW board member Peter Schwarzenbauer at an event in Munich on Wednesday.

Part of BMW’s growth strategy was to add another 400 dealer locations to its network by 2020.

Reporting by Karolin Schaps; editing by Susan Thomas

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