12:25 AM
BMW CEO Norbert Reithofer said the company has decided not to produce a series version of the Concept CS.
BMW announced its third quarter results on Tuesday. As results at its core automobile division collapsed, leaving the business with an operating return on sales of less than 1.3 percent, the sharper focus on profitability has led to product decisions being revisited, according to a company statement.
Reithofer told journalists in a conference call that as a result of cost and efficiency measures, BMW will no longer build a production version the Concept CS because the vehicle does not meet the internal requirements for rates of return. "At the moment we do not need that kind of brand shaper", Reithofer said.
BMW displayed the concept car at several international auto shows in 2007 and at the New York auto show last March.
It is a four-seat coupe-style sport sedan that was planned to rival the Mercedes-Benz CLS, Porsche Panamera and Maserati Quattroporte.
According to Friedrich Eichiner, BMW board member for corporate and brand development, BMW is focusing on and investing in future technologies and products. "In other words, we are pushing ahead Efficient Dynamics and Project i as part of our strategy Number ONE," Eichiner said. A key goal of BMW's Number ONE strategic plan is to cut costs by 6 billion euros ($7.79 billion at current exchange rates) a year by 2012. The plan was launched in late 2007.
Reithofer also said that BMW showed at the Paris auto show last month how it will expand its portfolio in the future with cars such as the BMW Concept X1 and the Mini Crossover.
At the Los Angeles auto show later this month, BMW will launch its all-electric Mini.
"The next step will be a mega city car with two different drivetrain options--one with electric powertrain and one with a highly efficient combustion engine," Reithofer said.
