BMW admits mistake with 5-Series GT 05/26/2011
It's not often that an automaker admits to a mistake, especially while a model is still on the market. Yet that's exactly what BMW has done with regards to their disappointing 5-Series GT.
Designed as a stylish alternative to wagons and crossovers, the vehicle replaced the German automaker's previous 5-Series Touring station wagon. However, BMW North America CEO Jim O'Donnell recently revealed that he wished it hadn't.
"The disappointment I have is that I thought a lot of our 5-Series station wagon customers would go with the GT," O'Donnell told Automotive News. "In point of fact, that is not happening. We have lost those customers to the competition - mainly to Mercedes-Benz."
Instead of replacing the fans of the previous station wagon, most customers simply went elsewhere, and the GT drew in very few new customers. It gets worse for BMW. Data suggests that the 5-Series GT actually began cannibalizing sales from within the brand. Since the model is built on the 7-Series platform, many drivers noticed that it had comparable power for approximately $13,000 less. So instead of going with the more expensive 7-Series, some customers have opted for the 5-Series GT - not exactly what BMW was looking for.
"The GT has attracted 7- and 5-Series customers and conquests," O'Donnell went on to say. "But not the station wagon customer we had hoped."
Admitting the mistake is one thing, but what's important is learning from that. Fortunately for BMW, it appears the company is doing exactly that. The automaker planned to introduce a similar 3-Series GT in the near future, but O'Donnell confirmed that the 3-Series station wagon will be staying. While the CEO says that it's probably too late to introduce the 5-Series station wagon for this generation of the model, there's a strong possibility that the car could return in the future.