The global car market is changing fast and the sports car segment is probably most affected by the global recession. According to BMW’s sales boss, sports cars may never return to pre-crisis sales levels.
“The sports-car market is roughly half of what it used to be. Post-2008, it just collapsed. I’m not so sure it’ll ever fully recover,” Ian Robertson, BMW’s head of sales, said in an interview with Bloomberg.
The executive said the car’s role as a status symbol has diminished, while SUVs and crossovers becoming more popular. Furthermore, in China and emerging markets, hot weather, pollution and a propensity for chauffeur-driven limousines have led to the decline of sports cars less among wealthy customers.
Robertson said that’s why BMW is teaming with Toyota to share development costs on a new mid-size sports car. The two companies said last week their project has entered the concept phase after completing a feasibility study. However, they declined to provide details.
The decline of the sports car segment is obvious when analyzing sales of the Audi TT, BMW Z4 (pictured) and Mercedes-Benz SLK. These models’ combined global sales peaked at about 114,000 in 2007 before falling 45 percent by 2010, according to IHS Automotive. By the end of the decade, global sales are expected to reach about 72,000.
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