BMW will stay in lower market segments amid costly EV shift

BERLIN — BMW CEO Oliver Zipse said the carmaker would not abandon lower-priced segments in the transition to electrification.

“We are not leaving the lower market segment. Even if you consider yourself a premium manufacturer, it is wrong to leave the lower market segment — that will be the core of your business in the future,” Zipse said, speaking at an event organized by supplier Robert Bosch in Berlin.

His comments contrast with the strategy of rival Mercedes-Benz, which said in July it was dedicating 75 percent of its investments to top-end vehicles and its highest-selling segment of “core luxury” C-Class and E-Class models while cutting the number of entry-level models.

BMW’s CFO warned last week that although sales of fully electric vehicles are expected to double this year from 2021 levels, the company expected rising inflation and interest rates to weigh on incoming orders, particularly in Europe.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Shopping Cart