BMW AG has long faced stiff neck-to-neck competition in the past few years from Mercedes. The competition has now been taken a whole new level especially after Mercedes-Benz replaced the automobile giant to get the sales crown. This has had a drastic impact on BMW AG as the Automobile giant now set to unveil 40 new and revamped models including the new X2 compact sports utility vehicle and the full-sized X7 SUV over a period the next two years.
The Chief Executive Officer of the Munich-Based manufacturer, Harald Krueger is focused on rejuvenating the sales and growth of the company after the profitability of the automobile company dipped to a six-year low in 2016, falling short of Mercedes’ sales for the first time in ten years.
The CEO who took charge in 2015 is all set to turn around the fortunes of the company after a series of models were outclassed by their counterparts at Mercedes. While The Mercedes S-Class managed to outshine the revamped 7-Series sedan, the redesign of the 5-Series didn’t yield any desirable outcomes. Krueger is more inclined to increase the profitability instead of sales to save resources for the upcoming expensive transition to electric vehicles. The CEO has plans to release the autonomous iNext by the year 2021.