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FRANKFURT, Germany (AP) -- Germany's luxury carmaker BMW predicts underlying earnings this year will easily outstrip last year's.

In a speech at the carmaker's home base in Munich, CEO Norbert Reithofer said Wednesday that the company would sell more than 2 million vehicles, up from last year's 1.96 million.

He also said the company is aiming for pretax profits significantly above last year's 7.9 billion euros ($11 billion). Its pretax earnings in 2013 were more or less flat compared with the previous year.

Reithofer said the company was looking at expanding production capacity in the United States. Last year it built 300,000 vehicles at its plant in Spartanburg, South Carolina.

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