BMW wants to limit sales of the Mini in the United States to ensure exclusivity and maintain a high resale value.
BMW wants to limit sales of the Mini in the United States to ensure exclusivity and maintain a high resale value.
“We don’t want it to be on everyone’s shopping list,” Jack Pitney, Mini’s US general manager, told .
Pitney said BMW had sold 18 606 Minis in the US from its debut in March until October, with about 75 per cent of the cars sold before they reached the showroom. He said about 85 per cent of Mini buyers had not bought a BMW before. BMW expects to sell 22 000 Minis in the US this year.
Analysts predict that BMW could sell about 32 000 Minis a year in the US, based on the current rate of sale. But Pitney said they planned to limit sales to 24 000 next year to keep the resale values high and boost demand.
According to ’s US resale value appraisal released in August, the Mini Cooper would retain 61 per cent of its value after three years. ’s vice-president said the vehicle’s attractive sticker price and its limited availability helped keep its residual high.
By 2010 BMW is expected to add convertible, station wagon and a pick-up versions in the US.
“It’s a brilliant strategy to keep the car in short supply,” said Jim Hall, an analyst at AutoPacific in Southfield, Michigan told . “You don’t want to keep it in such short supply that people blow it off but they’ve done a good job of balancing it so far.”
BMW last month increased its sales forecast for the Mini. The German company initially expected to sell only 100 000 Minis a year, but last month increased its forecast to 140 000 Minis for 2002.