Say What? BMW States Sports Cars are not as Popular as they Used to Be

Back in October of 2008, I had just started working at a near-luxury automobile dealership. One afternoon, as it usually was, the TV in my communal office was on a news channel, which announced that the stock market had taken a 777-point dip that day. I thought to myself, “I’m probably not going to be here long. It’s kind of hard to move $50,000 sedans and SUVs when the economy is going down the toilet.”

I was right. I got laid off a week or so later. At the time, I knew things were bad in the automotive sector (and everywhere else), but I had no idea what havoc the recession would wreak in the world of sports cars. According to Ian Robertson, head of sales for BMW, “The […] 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.”

Apparently, in North America and Europe, SUVs have become even more popular, and chauffeur-driven limos are as hot as the weather can be in China — facts which, along with pollution, make sports cars difficult to move there.

European and North American auto sales took a huge hit after the financial crisis, which knocked them to their lowest levels in two decades. Both markets are slowly getting back on their feet. Fortunately, consumers in Asia have helped soften the blow by contributing to an annual sales growth of more than 10 percent in their region. Although IHS Automotive expects combined global sales of the BMW Z4, Mercedes-Benz SLK and Audi TT to hit 72,000 units by the end of the 2010s, that number pales in comparison to the 114,000 cars sold in 2007.

Blame that on all the options out there. Tim Urquhart, an IHS analyst, said, “Young, urban upwardly mobile professionals are now able to buy a much wider range of lifestyle vehicles other than sports cars.”

BMW has options, too, such as partnering with Toyota to share development costs on and create the underpinnings for a new midsize sports car, which is a route it decided to take. The two companies recently announced their project has transitioned from the feasibility-study to the concept stage.

Chime in with your thoughts on the forum. >>

via [Automotive News – sub. req’d] photos [BMW]

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Derek Shiekhi

Derek Shiekhi's father raised him on cars. As a boy, Derek accompanied his dad as he bought classics such as post-WWII GM trucks and early Ford Mustang convertibles.

After loving cars for years and getting a bachelor's degree in Business Management, Derek decided to get an associate degree in journalism. His networking put him in contact with the editor of the Austin-American Statesman newspaper, who hired him to write freelance about automotive culture and events in Austin, Texas in 2013. One particular story led to him getting a certificate for learning the foundations of road racing.

While watching TV with his parents one fateful evening, he saw a commercial that changed his life. In it, Jeep touted the Wrangler as the Texas Auto Writers Association's "SUV of Texas." Derek knew he had to join the organization if he was going to advance as an automotive writer. He joined the Texas Auto Writers Association (TAWA) in 2014 and was fortunate to meet several nice people who connected him to the representatives of several automakers and the people who could give him access to press vehicles (the first one he ever got the keys to was a Lexus LX 570). He's now a regular at TAWA's two main events: the Texas Auto Roundup in the spring and the Texas Truck Rodeo in the fall.

Over the past several years, Derek has learned how to drive off-road in various four-wheel-drive SUVs (he even camped out for two nights in a Land Rover), and driven around various tracks in hot hatches, muscle cars, and exotics. Several of his pieces, including his article about the 2015 Ford F-150 being crowned TAWA's 2014 "Truck of Texas" and his review of the Alfa Romeo 4C Spider, have won awards in TAWA's annual Excellence in Craft Competition. Last year, his JK Forum profile of Wagonmaster, a business that restores Jeep Wagoneers, won prizes in TAWA’s signature writing contest and its pickup- and SUV-focused Texas Truck Invitational.

In addition to writing for a variety of Internet Brands sites, including JK Forum, H-D Forums, The Mustang Source, Mustang Forums, LS1Tech, HondaTech, Jaguar Forums, YotaTech, and Ford Truck Enthusiasts. Derek also started There Will Be Cars on Instagram, Facebook, and YouTube.