BMW has said it is optimistic about prospects ahead for the current year, with growth centred on electric models. It also outlined a strategy for investing in digital processes including digital aftersales upgrades that it said would be 'highly profitable'.
BMW said it expects to double sales of fully electric vehicles in 2021. The introduction of the fully-electric MINI and BMW iX3 last year will be followed in 2021 by the start of production for the fully-electric BMW iX in Dingolfing and the BMW i4 in Munich.
Go deeper with GlobalData
The BMW Group has now increased the number of electrified vehicles (fully-electric and plug-in hybrid) in its line-up to 13 models, available in 74 markets around the globe. The BMW Group plans to virtually double the number of electrified vehicles it offers to 25 models by 2023: More than half of these will be fully electric.
"We are optimistic about 2021 and look forward to resuming our profitable growth, thanks to strong demand for our fresh product line-up," said Pieter Nota, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. "We want to increase sales of our electrified vehicles by more than half in 2021. This underlines the importance of electromobility as a major growth driver for our company," Nota said. The company also aims to double sales of fully-electric vehicles this year.
BMW is also investig heavily in digital sales and marketing and said that it is planning annual investment of triple-digit millions up to 2025 in digitalisation of sales and marketing.
"We will be investing a triple-digit million euro amount annually up to 2025 in the digitalisation of our sales and marketing and are working together with our retail partners to offer the industry's best customer experience going forward," said Nota. "If customers choose to share their data with us, thanks to digitalised processes, we can get to know their wishes and preferences better than ever. We know which products or services they might be interested in. Having this as a basis enables us to provide an individual offering, customised for them, including all features and services, from a single source," Nota continued.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBMW also said that digital aftersales upgrades will 'substantially contribute to highly profitable optional equipment business in the future'. The BMW Group wants to significantly expand the range of vehicle functions available as digital aftersales upgrades. This will make it easier for customers to equip their vehicle with options that meet their wishes and individual mobility needs.
Customers will also be able to activate additional features, such as driver assistance systems, selected light and sound packages, or even suspension set-up. These features are also offered for a limited time – benefiting customers who lease or rent their vehicle and only drive it for a certain period.
The company expects the proportion of vehicle functions available as digital aftersales upgrades to account for a significant percentage of its highly profitable optional equipment business in the future.
