BMW is to start building a convertible version of the Mini – hitting the market by mid 2004.
BMW chief executive Helmut Panke says the prestige carmaker will match its 2002 financial performance in 2003 – in spite of the company's extraordinary expenditure made upfront on its product and market offensive.
BMW's first quarter 2003 operating profits fell by 18 per cent to £597m. The downturn stems from increased new product investment and a 7 per cent dip in sales volume in April.
BMW Group's first quarter profits fell 18 per cent from the same quarter the previous year, the company announced today.
BMW dealers in Germany are in open revolt over company moves which they believe will squeeze their margins.
HR Owen has acquired west of London BMW dealership Heathrow Ltd for £4.6m, including £2.1m in cash. Heathrow Ltd made a pre-tax profit of £1.1m on a turnover of £44.7m in the 12 months to December 2002.
BMW says it expects sales in China this year to jump more than 60 per cent through its joint venture with Brilliance China Automotive.
BMW has confirmed that the Hams Hall engine plant in the West Midlands will be the source of engines for the Mini and the forthcoming 1 Series and X3 small sports car in five years' time.
BMW is set to increase Mini output at Oxford by around 10 per cent over the next few years to around 180,000 units (2002= 160,000 units).
European Motor Holdings has bought Arriva Group's Stockton BMW dealership for £7.4m cash. The figure includes a goodwill payment of £2.0m.
HRH The Prince of Wales is to visit the BMW Group Oxford Plant to see the MINI production facilities as part of his scheduled visit to Oxfordshire on Wednesday 5 February 2003.
BMW is extending its free servicing and maintenance scheme to all new 3 and 5-series diesel models for a limited six-month period.
After the success of the Z4 it looks as if BMW has found another banker in the shape of the 6-series.
BMW is to unveil its first-ever diesel coupe next March – although it will be a further year before a right hand drive version is available. The BMW 330Cd will feature the new 3-litre diesel delivering 204bhp, which represents an extra 20bhp on the current 3-litre diesel offering.
BMW is set to unveil its new xActivity fwd concept vehicle at the Detroit Motor Show on 5 January. The sports activity vehicle - which will be denoted X3 - combines X5 looks but with a unique frame-structure convertible roof.
Around £30m-worth of manufacturer-owned BMW, Volvos and Saab cars were consigned to the deep following Saturday's collision between two ships in the English Channel. The Norwegian-registered Tricolour containing the 2,862 cars sank 30 miles east of Ramsgate.
BMW's Mini is subject to another recall. This time, 26,000 owners of right hand drive models built before June have been contacted. The recall is for a handbrake problem and follows instances of vehicles rolling away after being parked.
BMW is giving Internet users a fly-on-the-wall view of the Mini production process at Oxford via its www.mini.co.uk website. The 12-minute time-lapse video covers the entire production process.
BMW chief executive Helmut Panke has scotched rumours that the prestige carmaker is to build new Mini derivatives on a joint platform with PSA/Peugeot-Citroen. Rumours began when the opportunities for BMW to benefit from Peugeot's low cost small car production expertise were put forward on Monday by Goldman Sachs.
BMW GB dealers are gearing up for growth as the carmaker prepares to build on record sales this year by setting ambitious sales targets for 2003 - buoyed by the current strong demand for BMW product in the UK marketplace.