BMW along with Audi and Mercedes have experienced large sales increases in South Korea in the first quarter, each by at least 25% – faster growth than even in China.
Foreign brands have managed to secure 41% of Korea’s market for premium vehicles (up from 28% two years ago). A big part of the reason is the lower duties on European imports – down to just 3.2% (from 8%) after a trade agreement was signed in 2011. Next year will see these taxes eliminated for most cars. These gains for the German luxury makes come at the expense of Hyundai and Kia, which count on sales of luxury vehicles in their home market for much of their earnings.
Lee Tack Young says Hyundai’s vehicles are oversized, overpriced … CONTINUED
The BMW Group continued on its successful course in April with an increase of 6.8% in sales. A total of 155,419 (prev. yr. 145,541) BMW, MINI and Rolls-Royce vehicles were sold worldwide last month. Over the past four months the number of deliveries climbed 5.7% to a new all-time high of 603,619 vehicles (prev. yr. 571,084).
BMW has started the national roll-out of a ‘BMW Genius’ programme at UK dealerships following a highly successful pilot scheme in 2012. Each BMW Genius will be steeped in the increasingly sophisticated technologies and personalisation options available from BMW to help guide customers through every step of the ordering, buying, test drive and handover process, and will be on call to help with any subsequent queries or service updates.
Feedback from the pilot programme, conducted at 10 BMW dealerships who collectively employed 14 Geniuses, produced an extremely high level of customer satisfaction. Customers highly rated BMW Geniuses for their product knowledge, ability to explain the features and functionality of the model range and their willingness to meet individual needs.
The BMW Geniuses will initially work alongside existing … CONTINUED
BMW has been ranked as the world’s most powerful car brand by Forbes. Among all companies in the world, it ranked #9 overall and #5 in consumer perception. In Forbes’ Most Admired Company List, BMW came in 14th.
The BMW Group continued to perform well in the first quarter of 2013. Group revenues totalled € 17,546 million (2012: € 18,293 million; -4.1%). Despite higher expenditure on new technologies, increased personnel expenses and challenging market conditions worldwide, the profit before financial result (EBIT) for the three-month period totalled € 2,039 million (2012: € 2,134 million; -4.5%), the second highest result ever achieved by the Group in a first quarter. The EBIT margin for the Group was 11.6%.
Profit before tax (EBT) for the period from January to March amounted to € 2,003 million (2012: € 2,080 million; -3.7%). Group net profit came in at € 1,312 million (2012: € 1,352 million; -3.0%). The total number of BMW, MINI and Rolls-Royce brand vehicles delivered to customers … CONTINUED
The BMW Group in the U.S. (BMW and MINI combined) reported April sales of 29,011 vehicles, an increase of 8.3 percent from the 26,793 vehicles sold in the same month a year ago. Year-to-date, the BMW Group (BMW and MINI combined) is up 5.3 percent on sales of 107,968 in the first four months of 2013 compared to 102,522 in the same period in 2012.
“The solid April results are a good set-up for the months ahead as BMW transitions to model year 2014 with a range of new models coming to market,” said Ludwig Willisch, President and CEO, BMW of North America. “Our dealers are reporting a sizeable increase in business and we expect to see even more in May and June.”
BMW Brand Sales
Sales of … CONTINUED
According to Leftlanenews, a leaked document reveals that the official English name of this new joint brand is called “Zinoro” (which, not surprisingly, sounds like an English variation on “Zhi Nuo” (the Chinese name of the new brand)). The Zinoro models are expected to be green entry-level vehicles which will slot in under the MINI brand.
The BMW Group sold more vehicles in March than in any other month in its history. The company sold a total of 191,269 BMW, MINI and Rolls-Royce vehicles in the past month, exceeding the previous all-time high in March last year (185,741 units/+3.0%). The company also achieved a new high for the first three months: Retail volumes for the year to the end of March increased by 5.3% to 448,200 units (prev. yr. 425,543 units).
Ian Robertson, Member of the Board of Management, Sales and Marketing BMW: “The BMW Group achieved an all-time high in sales last month and the best first quarter in its history, despite the headwinds present in Europe. Sales of the BMW 3 Series have contributed strongly to that growth and we … CONTINUED
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We recently reported on a new joint venture between BMW and China’s Brilliance car company, called “Zhi Nuo” (which translates into “The Promise”) [more details]. This new brand name will be introduced at the Shanghai auto show later this month and will build its cars in China upon the E90 3 Series and X1 platform.
Under the joint venture, BMW has the right to export cars produced under the co-brand. According to Autonews, BMW is now considering exporting the Zhi Nuo built models outside of China, and not just to emerging markets but possibly also mature markets such as Europe.
No specific target export markets have yet been announced, but it will be interesting to see if these Chinese produced cars … CONTINUED