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BMW planning more annual cost cuts

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BMW planning more annual cost cuts

The No.1 premium automaker in the world has recently been unveiling many plans to cut costs, with the latest aimed at offsetting new emission standards and allow new investments.

The carmaker revealed the new plans yesterday, aimed at saving several hundred million euros annually, which would help it continue its investment expenses, reach tougher emission standards imposed by the EU and have money to further develop new electric and hybrid cars.

“Generally speaking we are continually watching our costs, and seek to maintain and enhance our international competitiveness. We seek to achieve a sustainable EBIT margin of between 8 and 10 percent, our strategy is based on this profit target,” said a company spokesman.

The “several hundred million euros a year” cost cutting is far less than the Germany’s Manager Magazin reported 3 to 4 billion euros target, and is designed to alleviate the rising expenses from new model introductions, the expansion of production capabilities and the adaptation to the new emission rules.

The new European Union anti-pollution rules give the automakers time until 2021 to reach an average line-up emission of 95 grams of carbon dioxide per kilometer, coming down from the current 130 grams limit. In 2013, BMW only managed to achieve across its entire range emissions of 133 g/km.

Via Reuters

by Aurel Niculescu (my Google+) - Thursday, June 19th, 2014 - filed under BMW, Industry, News. Image credit: .
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