By Max Bernhard 
 

Bayerische Motoren Werke AG (BMW.XE) said Wednesday that it expects revenue and deliveries to grow slightly in 2018.

Pretax profit is forecast to stay at a minimum of that of last year's level, the Munich-based car maker said. BMW reported pretax profit of 10.66 billion euros ($13.11 billion) for 2017.

Spending for research and development is expected to rise to around EUR7 billion in 2018, compared with EUR6.1 billion the year before, BMW said. The car maker expects an research-and-development ratio of between 6.5% and 7% it said.

BMW targets 140,000 electric-vehicle sales in 2018, and more than 500,000 by 2019, it said.

 

Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

 

(END) Dow Jones Newswires

March 21, 2018 05:18 ET (09:18 GMT)

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