German carmaker BMW is not expecting the car market in Western Europe to pick up before the middle of 2014, chief executive Norbert Reithofer told Boersen-Zeitung in an interview. He told the newspaper that the situation in the western European market “is still difficult."
Reithofer remarked that he expected the western European market to decline by around 5 percent in 2013, adding that “little will change” until the middle of 2014. He said he expects a slight pickup in the market in the second half of 2014. The carmaker disclosed in May 2013 that it expected its group sales to surge in 2014, following a 4-percent decline in revenues in the first quarter to EUR17.6 billion ($23 billion).
According to Reithofer, BMW was trying to avoid price cuts if possible and keep its market share stable despite stiff competition in the region. BMW’s CEO reiterated the carmaker’s goal of topping 2 million vehicle sales in 2016. BMW Group posted a 3-percent drop in sales in EU and EFTA countries in the first half of 2013 to 407,275 vehicles, according to industry association ACEA.
With the new 7-Series, BMW is expected to cement its place in the luxury segment as its most innovative sedan. Considered as the BMW fleet’s flagship model range, it has a combination of luxurious comfort, sporting elegance, and refined powertrain technology. With the product being elevated to a different level, the Sedan is projects to highlight its leadership.
The new BMW 7-Series comes with a stylish presence, distinct equipment features, and a memorable way to travel the miles. Indeed, this latest offering is able to meet even the highest of global standards with respect to cutting-edge technology and visual appeal. When it comes to the luxury sedan class, this segment has always been the embodiment of the highest driving experience and sporty elegance. By upgrading the 7-Series, the brand is able to confirm that for 2012, it comes with athletic capability and a stylish presence.
Making this possible are the new expressive design features not only on the front but also on the rear. While the proportions have been changed, it was done so only slightly. Thus, despite the overall height being lowered by 8 mm, it results in those sweeping lines having that additional expression. It also highlights how perfect the balance is of the vehicle’s dynamic proportions.
Other changes in the new 7-Series include the new LED headlights. The interior was upgraded as well to ensure that soundproofing is optimized and ride comfort enhanced. Further, there is a wide selection of advanced safety technology and equipment, though this is mainly optional.
As such, it results in an in-car experience beginning with the top drawer. BMW said that it will be coming out with new drive systems or ones that have been optimized. One of these is the in-line six-cylinder diesel. Another is the second-generation of the brand’s ActiveHybrid 7, which sets new standards when it comes to performance and efficiency.