BMW Won't Abandon Lower-Priced Segments As It Goes Electric | Carscoops carscoops
notes. In May, Mercedes-Benz revealed that it will drop its entry-level models and instead focus future investments on higher-end vehicles that generate greater profits.
“We are further sharpening the focus of our business model and product portfolio in order to maximize the potential ofeven in challenging conditions,” Mercedes-Benz Group chairman and chief executive Ola Kallenius said at the time. The automaker has confirmed it will cut its number of entry-level models from seven to four and is looking to pursue growth in the AMG, Maybach, EQ, and G-Class brands. This strategy also prompted the creation of the Mythos series that will be dedicated to producing highly-exclusive vehicles. No less than 75 per cent of future investments will be used to develop new luxury models.
“Most luxury companies build their portfolio on the basis of one or two true icons,” Kallenius added. “Mercedes-Benz has the good fortune to have multiple iconic products and brands at the upper end of its portfolio – such as the S-Class, the SL, the G as well as the AMG and Maybach brands. We see great potential here to expand our ‘top-end’ portfolio with even more fascinating products for our customers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Toxic air: India's 'helpless' farmers can't abandon stubble burningFarmers are “not lighting it up out of choice', says Paramjit Singh, general secretary of a prominent farmers' union in Punjab, where over 33,000 stubble fires have been reported since September 15th.
Read more »
A Republican-controlled House isn't going to abandon Ukraine for RussiaWhile control of the Senate remains an open question, it seems likely that Republicans will hold a majority in the House of Representatives when the new Congress takes office on Jan. 3. What might that mean for U.S. relations with Russia?
Read more »
Russia's war hawks rally behind decision to abandon Ukrainian city of KhersonRussia's leading war hawks on Wednesday swiftly rallied behind the decision to abandon the Ukrainian city of Kherson, putting a brave face on one of Moscow's most humiliating retreats in nearly nine months of war.
Read more »
Musk to meet with Twitter advertisers after ‘name & shame’ warningElon Musk is meeting with some of Twitter’s largest advertisers and marketing partners on Wednesday in an attempt to reassure executives following raucous developments at the microblogging site.
Read more »
CMA Awards 2022: Luke Combs takes entertainer of the year, more winners from country's big nightLuke Combs was crowned entertainer of the year at Wednesday's Country Music Association Awards in Nashville, the second year in a row that he's taken home the night's top honor. He also won album of the year for 'Growin' Up.'
Read more »
BMW i7 video review (2022): forget the looks, it's a masterpieceIs the BMW i7 the finest luxury EV on sale today? CAR magazine's expert review has the answers...
Read more »