Having filled every imaginable niche, however, its growth seems to be slowing as it struggles to imagine new ones. Mercedes may overtake BMW by unit sales this year, as a slick re-styling of its models wins over buyers seeking an alternative to BMW’s more staid designs. Jaguar Land Rover, Volvo and other premium carmakers are also competing harder than they used to. Mass-market brands such as Ford and Citroën are pouring resources into “premiumising” some of their models, in a drive for bigger margins. And the slowdown in China, hitherto a hugely profitable market, has hurt BMW disproportionately hard.
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