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March 19, 2014 AT 12:25 PM
German luxury carmaker BMW is looking at raising production capacity at its plant in the United States and releasing 12 new models as it chases record sales and a rise in pretax profit of up to 10 percent this year. BMW's plant in Spartanburg, South Carolina, is being readied to reach an annual production capacity of around 350,000 vehicles, up from 300,000 at the end of 2013. Chief Executive Norbert Reithofer said at the company's annual results press conference on Wednesday,"The U.S.