German Luxury cars
German Luxury-Car Makers Look Beyond Home Market
BMW to expand Plant in U.S., Daimler Will Boost Investment in China Venture
By William Boston and Neal E. Boudette Updated March 28, 2014 2:56 p.m. ET
A new BMW X4 is unveiled last Friday at the BMW manufacturing plant in Greer, South Carolina as the Germany luxury auto maker announced a $1 billion expansion for the plant. Associated Press
German luxury car manufacturers BMW AG and Daimler AG have unveiled plans to spend billions on new car factories, everywhere, it seems, except in Germany.
The shifting poles of the global automobile market are pulling Germany's biggest car makers far from home as they rush to maintain their dominance of the world-wide market for premium cars. Demand for high-end cars is growing faster than the broader market and it is strongest for Mercedes, Audi and BMW sedans and sport-utility vehicles and Porsche sports cars. Together, these German manufacturers control nearly 80% of the global market for premium cars, according to industry estimates.
In the past, Germany exported its iconic cars. But for years, the Germans have been ramping up production in plants from Changchun, China, to Chattanooga, Tenn., at a faster pace than in their factories back home. Since 2000, production abroad by German car makers has surged 134% to 8.6 million vehicles last year. During the same period, production in German car factories grew just 6% to 5.4 million vehicles.
Demonstrating the new mobility of Germany's big car makers on Friday, BMW's chief executive, Norbert Reithofer, climbed onto a stage in Spartanburg, S.C., to unveil a $1 billion expansion of the company's U.S. plant, BMW's largest factory world-wide. The Munich-based premium-car maker will assemble a new, large SUV, dubbed the BMW X7, along with the four other types of SUV already assembled there. BMW will add 800 jobs to a payroll that already exceeds 8,000—more than any other auto plant in the U.S.
Once the expansion is
BMW to expand Plant in U.S., Daimler Will Boost Investment in China Venture
By William Boston and Neal E. Boudette Updated March 28, 2014 2:56 p.m. ET
A new BMW X4 is unveiled last Friday at the BMW manufacturing plant in Greer, South Carolina as the Germany luxury auto maker announced a $1 billion expansion for the plant. Associated Press
German luxury car manufacturers BMW AG and Daimler AG have unveiled plans to spend billions on new car factories, everywhere, it seems, except in Germany.
The shifting poles of the global automobile market are pulling Germany's biggest car makers far from home as they rush to maintain their dominance of the world-wide market for premium cars. Demand for high-end cars is growing faster than the broader market and it is strongest for Mercedes, Audi and BMW sedans and sport-utility vehicles and Porsche sports cars. Together, these German manufacturers control nearly 80% of the global market for premium cars, according to industry estimates.
In the past, Germany exported its iconic cars. But for years, the Germans have been ramping up production in plants from Changchun, China, to Chattanooga, Tenn., at a faster pace than in their factories back home. Since 2000, production abroad by German car makers has surged 134% to 8.6 million vehicles last year. During the same period, production in German car factories grew just 6% to 5.4 million vehicles.
Demonstrating the new mobility of Germany's big car makers on Friday, BMW's chief executive, Norbert Reithofer, climbed onto a stage in Spartanburg, S.C., to unveil a $1 billion expansion of the company's U.S. plant, BMW's largest factory world-wide. The Munich-based premium-car maker will assemble a new, large SUV, dubbed the BMW X7, along with the four other types of SUV already assembled there. BMW will add 800 jobs to a payroll that already exceeds 8,000—more than any other auto plant in the U.S.
Once the expansion is