BMW admits that Tesla’s electric push is putting pressure on other automakers
According to a recent Bloomberg report, German automaker BMW has acknowledged the fact that US electric vehicle maker Tesla’s Model 3 electric car is ‘putting pressure’ on the midsize sedan segment of the auto market.
The acknowledgement of the impact of Tesla Model 3 on the midsize sedan segment has recently come from BMW in coincidence with the automaker’s reporting of its latest sales figures in the US. BMW has reported that the sales of its midsize sedans witnessed a plunge in the US in 2018, although its overall sales in the country recorded a marginal increase in the month of September.
The sales of the popular BMW 3 Series sedan have apparently been hit significantly by the increasing sales of Tesla Model 3 in the US.
With Tesla having ramped up its Model 3 production and focusing the deliveries of the vehicle in the US and Canada, BMW’s 3 Series is evidently losing out on its popularity. Tesla had reported in the last quarter that BMW 3 Series sedan was among the top 5 cars which were being traded in by Model 3 buyers.
Admitting that Tesla’s electric push is putting pressure on other automakers in the midsize sedan segment, Bernhard Kuhnt -- CEO of BMW North America -- said during the course of a recent interview: “Tesla is now ramping up their volumes, and it’s putting pressure on that market segment.”
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