BMW will launch a multitude of new products as part of its most significant offensive to this day, as per a new report from Automotive News. In overall, it will present 40 new or rejuvenated vehicles to assist it reach rival Mercedes-Benz who recently surpassed BMW in sales.
Two of the vehicles that will become part of BMW’s product offensive will be the X7, a full-size three-row crossover that will sit ahead the X5, and the X2, a little coupe-like crossover set to slot below the X4 and was last year previewed by a concept at the 2016 Paris Motor Show. BMW CEO Harald Krueger informed Automotive News that the automaker is aiming to restore its growth after sales fell back Mercedes-Benz for the first time in more than 10 years and profitably dropped to a new six-year low in last year. To save its resources, Krueger said that BMW will focus on profitability rather than sales figures as it prepares for electric vehicles and autonomous driving technology, both of which will be expensive investments for the company.
In 2016, BMW invested 5.16 billion euros ($5.6 billion) or 5.5 percent of its income on research and development, and it intends to spend much more in the next 2 years. Krueger states that BMW is going to challenge Mercedes so that BMW will be the strongest brand in the high-end sector while increasing sales volume and income by 2020. BMW Chief Financial Officer Nicolas Peter likewise informed the reporter that profitably is more vital than sales volume.
Last year, BMW’s global deliveries increased by 5.2 percent; however, this is less than half Mercedes’ 11 percent growth rate throughout the exact same duration.