BMW CEO Norbert Reithofer provides a quarterly update of BMW’s current and future state of the company, including mention of future vehicles and sales. He also announced BMW’s increased earnings forecast for 2010.
The F10 5-series helped lead BMW to an overall vehicle sales increase of 17.2% for a total of 19,272 vehicles from the 16,443 units sold in October of last year. Year-to-date, BMW sales were up 10 percent to 176,736 vehicles from the 160,666 units sold in the same period of 2009.
BMW has announced a new pilot program to rent out cars by the hour called BMW On Demand which will allow drivers near its Munich headquarters to rent various models from its product lineup, from the 1 series to its flagship 7 series sedan, and even performance models like the M6. Customers will be able to pick up and drop off the cars at BMW Welt (or “BMW World”), the auto maker’s exhibition, event and car delivery center next to its headquarters, and can reserve … CONTINUED
The BMW Group and PSA Peugeot Citro
BMW is considering adding a 4th model to be produced at the Spartanburg, S. Carolina plant, to further compete with Lexus and Mercedes in the U.S. The 3-series may wind up being that extra model, given its high volume and Mercedes announcement last year that its Alabama factory would also begin building its C-Class.
BMW has just completed a $750 million expansion of the Spartanburg plant to make room for the all new X3, which will join the X5 and X6 … CONTINUED
The dedication ceremony for the all-new 2011 BMW X3 and the Spartanburg Plant Expansion Completion was held yesterday at BMWs Spartanburg plant in South Carolina. On hand were various members of BMW management as well as important dignitaries. On hand and making speeches were:
President of BMW Manufacturing – Josef Kerscher
German Ambassador to USA – Dr. Klaus Scharioth
Governor of South Carolina – Mark Sanford
BMW CEO – Dr. Norbert Reithofer
South Carolina US Senator … CONTINUED
It was recently rumored that BMW was in discussions with General Motors regarding a potential partnership to develop engines. However, BMW CEO Norbert Reithofer said yesterday that BMW has had absolutely no discussions with General Motors regarding any cooperative efforts.
SPARTANBURG, South Carolina (Reuters) — BMW AG CEO Norbert Reithofer said on Wednesday that the German automaker has not had … CONTINUED
BMW celebrates the opening of the new 1.2 million square feet (1 billion dollar) BMW manufacturing facility in Spartanburg, South Carolina and the production of the new BMW X3 at the facilities.
BMW is launching a marketing push to convince more American consumers to custom order and take delivery in just 2-6 weeks. To entice them, BMW will offer them unique choices and provide a video link of their car being “born” while they’re waiting for delivery. The push coincides with a $750 million expansion at the Spartanburg plant to make room for a second SUV, the redesigned X3. Today 15% of Americans custom-order their cars. BMW hopes to get 40% of its buyers to do it … CONTINUED
The BMW Group continued its successful course worldwide in September. With 142,950 BMW, MINI and Rolls-Royce brand automobiles delivered to customers, sales were 16.8% higher than in the same month last year. In addition, BMW X6 sales have hit 100,000!
BMW AG plans to start a car-leasing business in China in 2012 to help boost its presence in the fast-growing auto market. A leasing business and a new finance arm, announced earlier this week, may help the Munich, Germany-based automaker increase sales in China’s fast-growing luxury sector. Sales of luxury cars in the nation may grow at almost double the industry pace of 20 percent to reach 530,000 units this year and 1.1 million by 2015, according to researcher J.D Power & Associates.
BMW of North America has announced an average base price increase of 1% for many BMW vehicles sold in the U.S. effective October 1, 2010. The F10 5-series, 5-series GT, ActiveHybrid X6, and ActiveHybrid 7-series not affected by this increase. Pricing for the all-new 2011 BMW X3 will be released in October with vehicles arriving in BMW Center showrooms in late December.
The captive finance company will begin identifying to BMW dealers their customers who are in good standing and whose vehicles’ market value is more than what is owed. Dealers will then contact those customers and tell them which new BMW vehicles they can buy within the same monthly payment range or a range chosen by the dealer.
The Best Global Brands is an annual study conducted by Interbrand which ranks the value of the world’s top brands, based on an assessment of its value in US Dollars. BMW is listed at the 15th position this year.
Some other studies have listed BMW as the most valuable auto manufacturer brand, but this one has Toyota and Mercedes Benz listed ahead of BMW, showing that these value studies are more art than science.
The study values BMW at $22.3 billion dollars. Toyota was valued at $26.2 billion … CONTINUED
Dan Creed, currently Vice President, Aftersales, BMW of North America, will become Vice President, Marketing, BMW of North America LLC. And Russ Lucas, currently Manager, BMW Pre-Owned Sales, will become Vice President – Eastern Region with overall responsibility for sales, marketing, aftersales and dealer development activities in the 12 state Northeast Region which includes the New York metro area. The Northeast Region is the largest sales area for BMW of North America with 93 BMW and 24 MINI dealers.
BMW AG surpassed August’s global sales volumes for its core brand not just versus last year’s month but for those of 2007 and 2008 as well, underlining the strength of the recovery in the premium car market.
BMW said today that it sold more vehicles in China in the first eight months through August than it did for the entire year of 2009.
Global sales of BMW brand vehicles rose 16.3 percent last month to about 88,000 units.
That brought the cumulative total year-to-date to 775,262 BMW brand vehicles, … CONTINUED
BMW has plans for a product push over the next decade to ward off increasing Audi and Mercedes sales. This will be accomplished through the addition of new models to the BMW lineup, including the 4dr 6-series Gran Coupe, BMW FWD vehicles, new MINI vehicles, added factory capacities and new plants, and increasing sales in the world’s largest growing car market – China.
BMW’s August sales saw a decrease of 1.6% from the same period last year. Year-to-date, the BMW Group sales volume is up 5.6% from last year. However, sales in the second half of the year is not expected to be as strong as the first half.