BMW to save billions by 2012
World’s largest luxury automaker – BMW – announced that it is well on track to meet and even exceed its goal of reducing costs on components and supplies by $5.2 billion by 2012. BMW says that it was able to do so partly due to a partnership with rival carmaker Mercedes-Benz.
BMW has announced that it is on track to not only meet its goal of saving $5.2 billion by 2012, but that it will “significantly” surpass its goal.
“We can say that from today’s perspective we will certainly and easily reach the 4 billion-euro savings goal, and even significantly surpass it,” said Herbert Diess, the management board member responsible for the cuts.
BMW and Mercedes-Benz have worked together during Q1, 2010, which is expected to reduce costs for both automakers by roughly $129 million per year by 2012, according to Diess.
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