BMW looking to save billions with cost cuts
According to Automotive News Europe, Reithofer is none too pleased about costs at Mini and on the 1 Series, although neither AN nor its source story, from Germany's Manager Magazin, elaborate on what steps could be taken to improve losses on either project. That makes it hard to figure out just where the fat will be trimmed from.
What may happen, though, is that BMW attempts to trim 100 million euros ($135 million) from its German labor costs each year; a solution hinted at a few weeks ago by Germany newspaper Muenchner Merkur. While a dramatic cost reduction, 100 million euros still doesn't begin to even approach the savings envisioned by Reithofer.
Meanwhile, the company is aiming too increase its global annual sales from 2 million units to 2.5 million by 2016, as part of its ongoing battles with Mercedes-Benz and Audi. Part of that plan will involve increasing production in the US, China and Latin America.
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