Bayerische Motoren Werke AG, the world’s biggest maker of luxury cars, forecast unchanged 2013 pretax profit as European auto sales drop and BMW increases spending to bring out 25 new models in the next two years.
Bayerische Motoren Werke AG, the world’s biggest maker of luxury cars, reported a drop in profitability at its auto unit as it invests on expanding offerings to keep ahead of Audi in a tightening race for the sales lead.
Bayerische Motoren Werke AG, the world’s largest maker of luxury cars, plans to hire Peter Schwarzenbauer, the former Audi AG sales chief, as part of an effort to tighten its grip on the premium segment’s top spot, three people familiar with the matter said.
Volkswagen AG’s Audi luxury brand will start selling the new A1 compact outside Europe next year and increase production to meet higher demand, Audi sales chief Peter Schwarzenbauer said in an interview.
Audi AG will roll out two limited edition models in coming months as part of an effort to increase the brand’s exclusivity and better compete with Bayerische Motoren Werke AG at the high end of the luxury market.
Audi AG will introduce its top-of-the line sports cars in the U.S. from next month to enhance the brand’s image and charge higher prices as it bids to narrow the gap to luxury-car leader Bayerische Motoren Werke AG.
Volkswagen AG Chief Executive Officer Martin Winterkorn appointed a new trucks chief, added a top executive for China and replaced three Audi board members as part of a shakeup to push forward with his growth plans.
Audi AG buyers must wait an average of three to four months for cars like the $52,700 A6 sedan as the company runs factories at full steam in an effort to keep pace with record demand, sales chief Peter Schwarzenbauer said.