BMW 2003 Annual Report Download - page 154
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22
Opening up segments
Detecting potentials. Shaping growth.
The BMW Group is growing into a new dimension. In 2003, the Company that
used to be a car maker with a single brand and three model ranges became
apremium manufacturer with three brands, and in 2004 the number of model
ranges will increase to ten. The BMW Group’s sales volume will also grow
dynamically in the next few years. By the year 2008, the Company will have an
annual sales volume of more than 1.4 million automobiles.This target cannot
be attained solely through the development of existing markets. Obviously, this
is a necessary basis for further growth; it needs, however, to be supplemented
by opening up new opportunities and winning over new groups of customers.
Wherever a segment with substantial potential for premium products can
be identified and the BMW Group can make an authentic offer with its BMW,
MINI or Rolls-Royce brands, then it will do so – without compromise regarding
the premium claim. One of the decisive factors contributing to the
BMW
Group’s
success, after all, is the clearly defined image of its brands.Therefore, the
character of the vehicles is absolutely essential when expanding into new seg-
ments.The vehicles must fit in with the brand and, in particular, fully meet the
customers’ demands and expectations. Current examples of this expansion
strategy include the new BMW X3, the BMW 6 Series, and the Rolls-Royce
Phantom which was launched at the beginning of 2003 and extended the
BMW Group’s product range at the very top end of the luxury segment of the
international car markets.
The MINI brand, however, provides the most comprehensive example for
the development of new segments. With MINI, the BMW Group established,
with unparalleled success, the premium concept in the small car segment. MINI
proves that being “premium” is not a question of the vehicle’s size, but of the
underlying concept.The MINI is successful even in the United States, where the
small car segment has played only a minor role to date; so successful, in fact,
that the United States is now the second-largest market for MINI cars worldwide,
just behind Great Britain, the MINI’s mother country.