During a speech on the company’s future today, BMW CEO Norbert Reithofer said there are currently no set plans for the German automaker to add a fourth brand, but the idea is still under consideration.
Earlier this year, rumors broke about a possible acquisition of Volvo or Alfa Romeo . Reithofer confirmed various options were examined.
“None of the automotive brands we evaluated meets our requirements at present,” Reithofer said. “The premium business remains our strength – not the near-premium business, nor the mass market segment.”
Early reports suggested BMW wanted a brand with front-wheel drive expertise to couple with MINI — thus the Volvo/Alfa speculation.
German newspaper Frankfurter Allgemeine Zeitung yesterday reported indicate BMW would target more a premium European nameplate instead. Apparently, the Jaguar and Land Rover brands have not been eliminated from consideration. Land Rover was once owned by BMW, before it was sold to Ford .
