BMW is reconsidering its strategy of expansion in the US given the sharp downturn in the market there.
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The US is BMW’s largest overseas market but Jim O’Donnell, head of BMW in North America, told Automotive News that he expects BMW sales to be down by around five percent this year.
Given unfavourable exchange rates, O’Donnell said that the company would rather sell fewer cars than go for volume without profit.
O’Donnell is also looking at reducing the company’s leasing business. He expected to reduce costs by cutting around 90 jobs.
O’Donnell will present his new US market strategy to management in Germany in January, reported the newspaper.
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By GlobalDataBMW sales were down 2.5% to the end of August. Overall sales would have been lower had it not been for strong Mini sales.
