BMW bets on self-driving iNext halo in luxury sales race

Bloomberg

BMW AG offered another glimpse of its futuristic self-driving iNext car as the German manufacturer seeks to gain momentum in the race to overtake rival Mercedes-Benz in luxury car sales.
The company, showing the iNext in a copper-colored version for the first time in 2016, will offer a more concrete concept of the vehicle this year, Chief Executive Officer Harald Krueger said Thursday at the company’s annual shareholder meeting. More models will follow the iNext that’s due to enter showrooms in 2021, Krueger said.
“For the first time, we are combining all key technologies for future mobility,” Krueger said in prepared remarks “The iNext is fully electric, fully connected, and enables safe, partially autonomous driving.”
BMW is looking to rekindle consumer excitement after a few subdued years that saw Mercedes-Benz take the lead in luxury car sales with a revamped model lineup featuring sporty vehicles like GLC sport utility vehicle. BMW’s sales growth through April trailed at less than half Mercedes’ rate.
To recapture its drive, BMW is bringing out 40 new and refreshed model unveils, half of which will come to market this year with a focus on popular SUV models like the all-new X2 compact.
As the company rolls out its record model offensive, it’s is also ramping up its electric vehicle production in the face of increased pressure to meet emissions targets. To finance the costly investment spree that’s raising outlays on research and development to a record 7 billion euros ($8.3 billion), BMW is bookending its push with high-end vehicles like the 8-Series, which will be available in six derivatives like the M8 Gran Coupe.
“In a complex, fast-paced world, there are no easy answers,” said Krueger.
“Commercial success cannot be taken for granted — especially over the long term.”