Now that China has relaxed its joint-ownership mandates, BMW has announced that it will procure a majority stake in its venture with Brilliance Automotive. The German firm will be the first foreign automaker to have majority control of its business in the region.
Being first will not come cheaply, however. It will cost BMW $4.2 billion to assume control with a majority stake of 75 percent of the business — albeit as part of a larger deal. All the manufacturer has to do is come up with the funds and wait until 2022, when rules limiting foreign ownership for all Chinese auto ventures are officially lifted.
2018 BMW X3 Is Supposed to Become the Segment Sales Leader, but It's Priced Higher Than Key Competitors
Munich HQ has huge expectations for the third-generation BMW X3. The X3, after all, was the vehicle that ignited the compact luxury SUV craze, the vehicle that spawned competitors such as the Audi Q5, Acura RDX, Mercedes-Benz GLK/GLC, Volvo XC60, Lexus NX, and Porsche Macan. Surely the X3 has the power, the might, the capacity for sales domination, right?
“We created that segment,” BMW CEO Harald Krueger said in July. “The No. 1 approach and target I clearly have is, there shouldn’t be anyone besides us who is No. 1.”
“If somebody on my team is not performing to that, well, he has a problem,” Krueger says, making clear to BMW USA’s Bernhard Kuhnt that greater global production of the X3 will mean greater allocation, which had better mean greater U.S. sales.
BMW will not, however, seek to achieve the lofty sales goals by introducing the 2018 X3 with a price that undercuts its key rivals.
The Third-generation BMW X3 Absolutely Must Be the Best-Selling Small Luxury Crossover in 2018, BMW CEO Says
“We created that segment,” BMW CEO says of the sector in which the BMW X3 arrived before Acura, Audi, Infiniti, Lexus, Lincoln, Mercedes-Benz, Porsche, and Volvo.
“The No.1 approach and target I clearly have is, there shouldn’t be anyone besides us who is No.1,” Krueger told Automotive News Europe.
In the U.S., where Krueger’s goals (expectations? demands?) for the South Carolina-built BMW X3 are lofty, the X3 ranked a distant fifth in the category in 2016.
But Krueger ain’t kiddin’ around.
Latest Car ReviewsRead more
Latest Product ReviewsRead more
- ToolGuy I appreciate the thoughtful comments from the little people here, and I would like to remind everyone that Ford Motor Company offers a full range of vehicles which are ideal for any driving environment including New York City. The size and weight our of product portfolio has been fully and completely optimized to be friendly to the planet and friendly to pedestrians while consuming the bare minimum of resources from our precious planet (I am of course a lifelong environmentalist). Plus, our performance models will help you move forward and upward by conquering obstacles and limits such as congestion and your fellow humans more quickly at a higher rate of speed. I invite you to learn more at our website.Signed, William Clay Ford Jr.
- George Hughes What ever happened to the American can-do attitude. I know what, it was coopted by the fossil fuel industry in their effort to protect their racket.
- 28-Cars-Later "But Assemblyman Phil Ting, the San Franciscan Democrat who wrote the electric school bus legislation, says this is all about the health and wellbeing of Golden State residents. In addition to the normal air pollution stemming from exhaust gasses, he believes children are being exposed to additional carcinogens by just being on a diesel bus."Phil is into real estate, he doesn't know jack sh!t about science or medicine and if media were real it would politely remind him his opinions are not qualified... if it were real. Another question if media were real is why is a very experienced real estate advisor and former tax assessor writing legislation on school busses? If you read the rest of his bio after 2014, his expertise seems to be applied but he gets into more and more things he's not qualified to speak to or legislate on - this isn't to say he isn't capable of doing more but just two years ago Communism™ kept reminding me Dr. Fauxi knew more about medicine than I did and I should die or something. So Uncle Phil just gets a pass with his unqualified opinions?Ting began his career as a real estate financial adviser at Arthur Andersen and CBRE. He also previously served as the executive director of the Asian Law Caucus, as the president of the Bay Area Assessors Association, and on the board of Equality California. [url=https://en.wikipedia.org/wiki/Phil_Ting#cite_note-auto-1][/url][h3][/h3]In 2005, Ting was appointed San Francisco Assessor-Recorder in 2005 by Mayor Gavin Newsom, becoming San Francisco’s highest-ranking Chinese-American official at the time. He was then elected to the post in November 2005, garnering 58 percent of the vote.Ting was re-elected Assessor-Recorder in 2006 and 2010During his first term in the Assembly, Ting authored a law that helped set into motion the transformation of Piers 30-32 into what would become Chase Center the home of the Golden State Warriorshttps://en.wikipedia.org/wiki/Phil_Ting
- RHD This looks like a lead balloon. You could buy a fantastic classic car for a hundred grand, or a Mercedes depreciationmobile. There isn't much reason to consider this over many other excellent vehicles that cost less. It's probably fast, but nothing else about it is in the least bit outstanding, except for the balance owed on the financing.
- Jeff A bread van worthy of praise by Tassos.