BMW Diverts Car Shipments from Europe to Asia, U.S.

BMW AG says it has rerouted "tens of thousands" of cars originally intended for the European market to the U.S. and Asia, where demand is stronger.

Thanks to strong sales outside Europe, BMW group boosted its worldwide sales 12% to a record 177,700 vehicles in September. In the first nine months of 2012, the company's volume has climbed 8% year over year to 1.3 million units.

Sales chief Ian Robertson tells reporters the auto industry's challenges in Europe are growing. He predicts "a lot of bumps in the road" before the market stabilizes.

Robertson says Europe's economic slump has devastated some BMW dealers, especially those in recession-ravaged Spain. Robertson says the company faces some "difficult decisions" on restructuring its distribution network in that country.