BMW takes wraps off dazzling luxury lineup
Chinese core market is in the driver’s seat to build on company’s success of last few years and power group to new records in current year
BMW Group’s global chief will lead top management in a key product debut on the vibrant Chinese auto stage on Wednesday — showcasing the premium marque’s transformation into a peerless new energy-charged tech company.
Harald Krueger, chairman of the board of management of BMW AG, and three board members, have arrived in Beijing for the on-going Auto China 2018.
The executives will pull the covers off the luxury brand’s heavyweight models, in a country set to play host to more milestone BMW international product premieres.
The mobility brand at the auto show is unveiling its strongest-ever product offensive in the Chinese market, with its newest locally made models coupled with the BMW Concept 8 Series — enhancing the upper end of the premium segment with an all-new coupe series.
“In China, we operate two car production plants and one engine plant,” Krueger said in a speech last month.
“In 2018, we are targeting solid growth there.”
The BMW offerings in China include the all-new BMW X3 sport activity vehicle, the all-new BMW 5 Series and their electrified variants, available to customers this year.
In addition, more models are to be introduced soon to satisfy the different tastes of the brand’s ardent fans.
The Chinese market continues to offer huge growth prospects that are expected to fuel the German group’s dash for more sales highs in the current year.
That’s because China remains its biggest single market. More than 595,000 BMWs, MINIs, and Rolls-Royces — world-leading brands belonging to the Bavarian group — were delivered there last year, for year-on-year growth of around 15 percent.
Asia’s high-octane market has for years fueled the group’s mounting international sales volumes. These increased 4.1 percent globally in 2017 to a fresh record of 2,463,526 new vehicles
Because the future of mobility is created today. We are stepping up the pace this year.” Harald Krueger,
sporting the BMW, MINI and Rolls-Royce marques.
Besides the record-busting global sales, BMW Group also reported its best-ever figures for revenue and earnings, demonstrating its ability to generate sustained profitability in 2017.
In addition, the BMW Group delivered more than 100,000 electric vehicles to customers for the first time in a single year, firmly underpinning the group’s role as a pioneer and key driver of electric mobility.
BMW has witnessed eight consecutive record-making years of annual sales. The last three fruitful years have seen it accomplish its mission to reassert its position as the world’s leading manufacturer of premium vehicles.
ACES drives growth
The Munich-headquartered company has continued to move ahead as a leading pathfinder in the transformation of the world’s mobility sector.
Driving its progress is the futuristic ACES program — standing for automated, connected, electrified, services and shared — outlined in BMW’s Corporate Strategy Number One > Next two years ago.
“We think in terms of opportunities and follow a clear strategy,” Krueger said.
“Because the future of mobility is created today. We are stepping up the pace this year,” he added.
The BMW Group is stepping up its pace in its drive to shape tomorrow’s mobility, after investing 6.11 billion euros ($7.5 billion) in research and development last year.
Targeting a ninth consecutive record-breaking year, the group intends to increase upfront expenditure on R&D to an all-time high in 2018.
The annual R&D investment will rise by hundreds of millions of euros against last year, to reach the 7 billion euro mark in the near future, according to the company.
The major part of the investment will be pumped into upfront expenditure, primarily for the ongoing new models initiative, e-mobility and autonomous driving.
Krueger noted that the BMW Group is entering a whole new dimension with its focus on autonomous driving and e-mobility, reflecting the company’s vision and determination to lead tomorrow’s mobility with technological innovation.
“This era will see the transformation of the BMW Group into a customer-centric mobility firm and tech company,” Krueger said.
Technology pioneer
“I want BMW to become the best customer-centric mobility company. And ‘tech’ refers to our clear vision of being a technology leader.”
He said the company’s Strategy Number One > Next set out the elements of this technological metamorphosis, considered to be of central importance to its future. The springboard for pushing it ahead, he added, is the innovative ACES program.
BMW is using both the progress made in these areas and its innovative vehicle concepts to strengthen its position as a manufacturer of premium cars whose emotional impact stems from inspirational design, the driving pleasure for which the brand is renowned, trail-blazing technology and a premium character without compromise.
The group has made steady strides in expanding the online BMW community and extending itself into the mobility services market.
More than 1.8 million customers worldwide are currently using BMW Connected technologies, and the company sees huge potential for there to be more than 10 million of its vehicles connected via its ConnectedDrive technologies.
In the wake of closing deals to buy parking app Parkmobile and car-sharing app DriveNow, BMW is moving forward on mobility services in partnership with Daimler.
By winning over more mobility customers completely, the BMW Group believes it has a bigger chance of setting up a holistic ecosystem around customer’s mobility requests.
“We are already succeeding in some cases,” Krueger said.
“But we will definitely be able to develop even more customer benefits in the future.”