) aims to double sales of large luxury cars next year from 2018 levels to help revive profit margins hit by investments in new technologies, Chief Financial Officer Nicolas Peter said on Thursday.
“We want to grow in the coming years and we are convinced the premium segment will outperform the overall market - and that we will outperform the market,” he said. In March, BMW warned it expected group pretax profit to fall by more than 10% this year and announced a 12 billion euros savings and efficiency plan to help offset higher technology investments.
To lower development costs for electric and driverless cars, BMW will pursue alliances, such as a plan to make a low-cost electric car with Chinese partner Great Wall . “Mini is a strategic part of BMW,” Peter said, adding smaller vehicles were gaining in relevance among urban customers seeking to downsize.
BMW lost the train on electric vehicles and automation. Now bets on selling more big & obsolete, very polluting petrol cars in order to be able to afford staying in the race.
MORE LUXURY, that is what the world needs.
I definitely love my BMW!😍