BMW CEO Norbert Reithofer revealed the automaker’s strategy for the next several years during a speech today. The CEO outlined BMW’s plan to sell 1.8 million vehicles by 2012, a target that will be aided by the addition of several new models over the next five years — including a BMW X1 crossover, BMW Gran Turismo (based on the CS show car), a MINI SUV and two new Rolls-Royce models.
Production plans for BMW CS concept
Reithofer said BMW will go ahead with production of a car based closely on the popular CS concept shown at the Shanghai auto show earlier this year.
He referred to the car as a “four-dour Gran Turismo” based on the CS concept study. It’s not clear if BMW will revive the 8-Series badge as observers in the auto industry have speculated, or if another name will be used.
The chief executive also confirmed plans for a new crossover called the X1. “We would like to confirm the announcement of the BMW X1,” he said. “This model is going to complement the successful X family, together with the BMW Concept X6 presented at the Frankfurt Motor Show.”
The X1 is rumored to be based on the 1-Series, with vehicles like the Toyota Rav4 targeted.
Phantom coupe, sub-Phantom model
Reithofer confirmed plans to build a two-door coupe based on the Rolls-Royce Phantom .
In addition to the new coupe, the automaker will also introduce a vehicle slotted below the Phantom.
“We reevaluated and confirmed an additional Rolls-Royce model during our strategic review,” he said. “It will slot in below the Rolls-Royce Phantom in terms of both size and price.”
MINI SUV
The MINI brand will gain an SUV model, Mr. Reithofer said, confirming recent rumors.
“At MINI, we opted for a further model in the sports activity vehicle segment,” he said.
Past reports indicate the vehicle will arrive in showrooms for the 2010 model year. It’s not know how closely it will resemble the MINI Cooper .
Currency fluctuation
The document also stated that BMW will better monitor currency fluctuation and will increase production in areas that have a favorable exchange rate. The document outlined increasing production at BMW’s Spartanburg, South Carolina plant to 240,000 vehicles annually by 2012 — a 100,000 unit increase over current capacity — as well as increasing its Mini plant in Oxford to to 260,000 units annually.
BMW is also planning to increase Chinese production from from 30,000 units to 44,000.
