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BMW CANCELS 8-SERIES.(NEWS)
Byline: Greg Kable
BMW is reevaluating its entire future model lineup as part of a broader cost-cutting initiative following disappointing third-quarter sales that saw the German automaker's profits plunge by 62.9 percent.
The first victim of BMW's across-the-board cuts is the upcoming 8-series. Pre-viewed at the 2007 Shanghai motor show as the CS concept, the swoopy four-door coupe was intended to sit on modified underpinnings from the new 7-series and provide competition to the Porsche Panamera and the Mercedes-Benz CL when it launched in 2010.
Despite having started development of the car, BMW has determined that it does not meet stiffer profitability targets that apply to all future models. "It does ...
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Source: HighBeam Research, BMW CANCELS 8-SERIES.(NEWS)