BMW plans product push to beat competitors

BMW wants to fend of its closest competitors by expanding the BMW and Mini model ranges to boost annual sales to 55% in the next ten years. BMW’s goal is to sell more than 2 million vehicles by 2020.

CEO Norbert Reithofer said that they will need to expand their current production facilities and will most likely build a new plant in order to make this happen. Reithofer also said that their new models that will be released after 2012 will definitely give their sales the big push. These models will include the battery-powered city car, a four-door 6 Series luxury coupe, the introduction of the new front-wheel-drive technology, and small car Mini models that will win new customers.

BMW needs to do a product push in order to maintain their place as the world’s largest premium automaker since 2005. Volkswagen already owns Lamborghini, Bentley and Audi — now, they will merge with Porsche Automobil Holding SE. Audi has already released a statement that they plan to remove BMW in the top spot by 2015, and will be introducing a dozen models in 2010. Though not threatened, BMW needs to remain cautious and control their targets.

Source: Autonews