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BMW Active Hybrid 7 acquires $900 tax credit, however its price tag is still $100K +

June 7th, 2010

The BMW Active Hybrid 7-Series is the 4th BMW replica to meet the criteria for a tax credit under U.S. government principles. The U.S. government has declared that the BMW Active Hybrid 7-Series specifies for a $900 (€735) federal tax credit below the Alternative Motor Vehicle provision. The Internal Revenue Service manifested the tax credit for the prototype now.

nevertheless that however holds the cost for the 2011 BMW Active Hybrid 7-Series at over $100,000. Initial price for the model which includes the destination costs but excludes the tax credit, is $103,125 (€84,251). The lengthy wheelbase variant starts at $107,025 (€87,437).

The authentication at present appends the Active Hybrid 7-Series to the Active Hybrid X6, the 335d and the X5 xDrive35d to the set of BMW prototypes which measure up for the tax credit.

The Active Hybrid 7-Series boasts the same 4.4 litre V8 engine with 455 PS (335 kW) and 516 lb-ft (700 Nm) as the 750i, exclusively with a meek-hybrid system (electric motor powers) and stop/start engineering to better fuel saving by approximately 15%. The power train matched to the 8-speed transmission system allows this model of the BMW to go from 0 to 60 mph (96 km/h) in 4.7 seconds.

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Posted in BMW, Car manufactures, General News, Pricing

Tags: 7-Series BMW Pricing

Premium Prices of Cars in China

June 7th, 2010

BMW’s 7-Series has a 1,355,000 Yuan ($198,500) as its base price, will not cost almost three times the price of the U.S. version. Audi’s A4 in China is 39% more costly than the U.S. initial price, while Mercedes C-Class starts at 348,000 Yuan ($51,000), thus making it 51% more costly than in the U.S. These statistics are according to the carmakers’ Web sites.

Audi spokeswoman Esther Bahne said, “In China a rather high pricing level is maintained due to consistently high levels of demand. Incentive levels throughout the premium market are low.” He stated thus while declining to remark in detail on Chinese programs in advance of Volkswagen’s full first-quarter earnings report.

Geely settled to buy Volvo for $1.8 billion from Ford Motor Co. on March 28. The Chinese auto manufacturer has ideas to spend $900 million as part of a turnaround of the un-remunerative Gothenburg, Sweden-based brand. The enlargement includes Volvo’s 1st Chinese factory and a goal to sell 200,000 cars in the country in five years. Volvo now has 6% of Chinese luxury sales.

Mercedes will launch a longer E-Class in Beijing this week. This is the first model formulated only for China, while BMW will have a continued 5-Series, the only car built for this specific market.

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Posted in Audi, BMW, Car manufactures, General News, Mercedes-Benz

Tags: BMW China Pricing Market Merceded-Benz

Audi Motor Company Share Declining in china Market

June 7th, 2010

Audi’s contribution of the Chinese luxury market declined to 42 % last year from 66% in 2004, according to data from Global Insight. BMW, the world’s principal luxury auto maker, earned 7% points to 23 % over the same period, while Mercedes augmented to 16% from 9 %.

The cut down in Audi’s market contribution came after Daimler and Munich-based BMW constituted joint ventures over the previous seven years to construct cars topically. Audi has been operating in China for more than two decades. Mercedes and BMW were appended to the government’s leverage list only last year. Daimler’s Chinese sales reached two-fold in the first quarter thus making it the top- developing luxury auto manufacturer in the country. The Stuttgart, Germany-based producer, presently No. 3 in China, is directing deliverances to over 100,000 vehicles this year which is 70,100 more than in 2009.

As the three German competitors punch it out, Volvo Car Corp.’s programs to develop in China with the aid of new proprietor Zhejiang Geely Holding Co. may show the way to cutting down of prices for luxury cars in China, a market in which the luxury automakers depend to boost profit.

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Posted in Audi, BMW, Car manufactures, General News, Volvo

Tags: Audi BMW Volvo

BMW Group Records Positive Earnings for 2009

May 5th, 2010

Encouraging earnings for the financial year 2009 was recorded by the BMW Group. This was according to their plans regardless of the in progress worldwide financial and economic disaster. The profit before tax of the Group increased by 17.7% to euro 413 million while it was euro 351 million in 2008. Because of the higher in force tax rate the net profit of the BMW Group amounted to euro 210 million against euro 330 million in 2008 down by 36.4%. Revenues reduced fairly by 4.7% to euro 50,681 million as against euro 53,197 million in 2008. Dividend remains unchanged against the previous year at euro 0.30 per share of common stock and euro 0.32per share of preferred stock.

While at a meeting in Munich Dr. Norbert Reithofer, the Chairman of the Board of Management of BMW AG stated that “We performed well in 2009 despite difficult market conditions worldwide. Our cost management and efficiency improvement measures had a positive impact, even though the effects of the worldwide financial and economic crisis were still being felt. We are proposing a dividend for 2009 despite the difficult economic climate, demonstrating the confidence we have in our operating strength, and we also want our shareholders to participate in the company’s performance”.

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Posted in BMW, Car manufactures, General News

Tags: BMW Group results 2009

Sales of BMW for 2009

May 5th, 2010

In entirety, the BMW Group sold 1,286,310 BMW, MINI and Rolls-Royce brand vehicles in 2009 against 1,435,876 units in 2008 which is -10.4%. This operation facilitated the BMW Group to boost its share in the market in the premium segment. This also helped the Group to hold on to its position as the world’s foremost premium manufacturer.

The overall sales of BMW brand cars for 2009 was 1,068,770 against 1,202,239 units for 2008 which is again down by 11.1%. This actually placed the BMW brand once again well in advance of its related competitors in the premium segment. The increase in sales of BMW was strong and the sales of different brands were as follows:

7 Series – 52,680 up by 35.7%
X6 – 41,667 units up by 56.8%
Z4 – 22,761 units up by 26.4%.

The BMW Group also was successful and grew strongly in the year 2009 in the rising markets of China and sold 90,536 units which showed an increase of 37.5%, in Brazil 6,398 units up by 118.8%) and India 3,619 units up by 24.4%). This resulted in the Group accomplishing new sales records in all the three markets.

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Posted in BMW, Car manufactures, General News

Tags: BMW Sales 2009

BMW Charity ProAm stands up to Confront

September 16th, 2009

It is chiefly heartwarming in light of the lasting recession to know that the 2009 BMW Charity Pro-Am Golf Tournament raised $651,829. This charity amount will be divided amongst 78 charities in the Upstate and western North Carolina. The amount raised through the charity is no doubt a bit less than in the top years.
This makes the grand total to approximately $7.3 million that the BMW golf event has been able to make over the past 9 years for 125-plus charities in this area. Bobby Hitt, BMW Manufacturings manager of public affairs and president of South Carolina Charities Inc., running the golf tournament stated that “We’re here to tell you we’re here to stay.”
This remark by Bobby Hitt is music to the ears of many local charities which finds their financial situation predominantly bleak if not for the check made possible by the BMW Charity Pro-Am.
The BMW Charity Pro-Am not only aids local charities, but also does so much more for the society, too. It appeals to some great professional golfers and invites them to the area for the Nationwide Tour.