BMW Group Outsells Fiat Group in Europe Over the first 8 Months of 2013
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BMW grew up to a total of 6.3 percent market share, adding up to 514,864 units sold, compared to Fiat's sales that added up to 6.2 percent, 507,751 units to be more exact, according to numbers released by ACEA last week.
This is an important development for BMW in Europe as sales have been plummeting in the last few years. The growth registered seems to be a direct result of the involvement of luxury brands in the small vehicle segments.
BMW is not the only manufacturer that registered such increases. Audi grew from 4 percent market share to 6 percent, whilst Mercedes-Benz also sold more by 0.5 percent, going from 4.5 to 5 percent.
"The luxury carmakers have invaded the compact and small-car segment, and many customers are willing to pay a little more to buy a luxury car," said Peter Fuss, a partner at consultant Ernst & Young in Frankfurt.
It seems like people are now more into smaller, luxury cars than into full size sedans, especially since the prices are extremely close. For example, an Opel Insignia costs around EUR24,000 whilst a BMW 1 Series starts at EUR21,900. For those people whose children left home, the 1 Series looks like a better alternative, says Christian Ludwig, an analyst with Bankhaus Lampe in Dusseldorf, Germany.
Furthermore, larger discounts are also very attractive for this demographic, proving to be another important incentive. Hopefully, things will start looking up from now on, making BMW the top gun in Europe as well.
Via: Auto News Europe
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