The biggest challenge is definitely on the currency side.
Volkswagen is turning from the most-hated car stock into everybody's darling. Volkswagen must be completely reassessed. The shares have room to rise.
Volkswagen still has room to rise. We fund managers love Volkswagen now. The stock has gone from the most-hated automobile stock to everybody's darling.
Oil prices have been permanently on the rise, so it's clear that costs were higher. I'm slightly optimistic, but not enough for a big buying story.
Car manufacturers are looking 20 years down the road when their customers are going to be older on average. Innovation is the most important aspect for car makers and they are investing a lot of money in this.
Volkswagen must be completely reassessed. The shares have room to rise.
I'm confident that this year will be a good one for BMW. They are in a good position with their models to re-establish earnings growth and catch up on the profit side.