MENU
SEARCH
PARIS - BMW said deliveries in the third quarter beat its forecasts as the new X1 sport-utility vehicle and revamped 5-series sedan won customers, Bloomberg reported.
Sales of BMW, Mini and Rolls-Royce cars and SUVs rose about 16 percent in September to cap a “very good” three-month period, CEO Norbert Reithofer said.
Group deliveries in September 2009 totaled 122,354 vehicles. Sales increased 9.1 percent in July 2010 and 13 percent in August.
The CEO declined to comment on financial expectations for the third quarter, saying he hasn't seen internal figures yet.
BMW has a target of selling 2 million cars and SUVs by 2020, and is planning on 10 percent growth in deliveries this year to 1.4 million vehicles.
The automaker, which is also developing a new front-wheel-drive model, will overhaul the 1-series compact and 3-series sedan in the next two years, providing momentum for sales independent of economic developments, Reithofer said at the Paris auto show.
The front-wheel-drive technology will be installed in BMW-brand models and will also be used in the Mini small-car lineup, Reithofer said.
Sales volumes for the vehicles could total 700,000 to 1 million vehicles a year, he said.
BMW doesn't need a partner for the front-wheel-drive platform because it can generate economies of scale on its own, Reithofer said.
Recent survey data shows that the overall demand for auto loans is down, but the demand for subprime loans is up as consumers face economic uncertainty and affordability pressures.
Read More →
The Mitsubishi location moves from one Texas automotive group to another, continuing this year’s spate of brisk buy-sell activity.
Read More →
As part of its 2030 business plan, Mitsubishi's North America arm will soon open its first 'gallery' store in Tennessee, where customers can learn about the brand, vehicles and technology.
Read More →
Just weeks before President Trump is set to meet with the Chinese president, two U.S. senators proposed a bill with the aim of protecting Americans’ data.
Read More →
A study of Q1 used-vehicle sales shows many consumers are looking to minimize fuel costs but aren’t willing to go all electric and no longer have a tax break incentive to do so.
Read More →
A recent study suggests expectant parents are feeling the burden of bad credit more than other demographics when it comes to buying a new car.
Read More →
Dealers should aim to build a positive work environment, helping employees execute an efficient experience, from their online research to the final delivery of the vehicle.
Read More →
A cloudy April forecast was expected due to last April’s sales surge in anticipation of U.S. trade tariff-inflated prices. Meanwhile, automakers pumped up incentives to address today’s consumer wallet woes.
Read More →
EREVs, also known as ‘series hybrids,’ may catch on in the U.S., where they currently have barely a toehold, as automakers tilt away from some purely electric models and consumers crave more range.
Read More →
A recent price spike due to several larger market forces, though it hasn’t dulled demand, is pushing more consumers to efficient models to squeeze in buys.
Read More →