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NINETY EIGHT REGENCY

BMW HOPING TO BOOST SALES 55 PERCENT BY 2020

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BMW HOPING TO BOOST SALES 55 PERCENT BY 2020

By Andrew Ganz

In an effort to keep domestic rivals Volkswagen and Mercedes-Benz at bay, BMW has joined the fray of German automakers looking to rapidly increase sales.

BMW says that it plans to grow its annual volume to more than 2 million vehicles by 2020 – up from last year’s deflated 1.29 million – by increasing its presence in China and the United States in both its BMW and MINI ranges.

Although the Chinese market will essentially grow on its own, the automaker is still planning a massive new product push. Among the new products is an expansion of the 6-Series line, the soon-to-be-released MINI Countryman and a range of city-oriented EVs.

“The big push [is] in new models, entering new segments comes after 2012,” BMW CEO Norbert Reithofer told Bloomberg. “If I look forward to 2020, then we have to think about additional capacity.”

Keeping up with the Schmidts?

VW’s Audi unit says that it plans to topple BMW’s current lead in global luxury cars by 2015. Boosted by Volkswagen’s massive resources, the brand is rapidly growing across the globe.

And Mercedes-Benz, which was the top luxury brand until 2005, is also eager to take back the title.

“If you’re not on the attack, there’s the risk of ending up on the defensive,” said Juergen Pieper, a Frankfurt-based analyst with Bankhaus Metzler, in an interview. “BMW has the right mix of caution and controlled offense to meet its targets.”

All three brands are jostling over the lucrative – and volatile – Chinese luxury market. BMW’s sales were up 82 percent in July, helping to boost the market to the automaker’s third largest. Yet both Audi and Mercedes-Benz – not to mention newly Chinese-owned Volvo – are increasing their presences in China.

link:

http://www.leftlanenews.com/bmw-hoping-to-boost-sales-55-percent-by-2020.html

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