The largest premium automaker in the world, a renowned producer of sports cars is now seeing the peak of one of its most important segments past and in the rear-view mirror.
BMW AG thinks that today buyers have changed their view of the glorified sports car, ultimately seeing the segment for such commodities never reaching the top of its sales, back in the glory days before the latest global recession.
Ian Robertson, BMW’s head of sales, said in an interview at the manufacturer’s headquarters in Munich that “the sports-car market is roughly half of what it used to be,” after it simply collapsed back in 2008-2009. He also believes it might never recapture its momentum, as many new car buyers are opting for cars that have more than one uses – such as SUVs, trucks or crossovers.
The executives explains that in the traditional markets of Europe and North America the cars have lost their status as symbols of the owner’s welfare, as other segments are now more popular and the next generation of buyers is relinquishing their habit of driving more often than a decade ago. Also, the emerging markets, such as India, China, Brazil and others, a combination of factors – hot weather, pollution or China’s love for chauffeur-driven models – have made clients with money less interested in sports cars.