{"id":761,"date":"2008-02-10T15:34:00","date_gmt":"2008-02-10T15:34:00","guid":{"rendered":"http:\/\/blogs.thesocialmedia.com\/petrol-head\/2008\/02\/10\/bmw-details-cos\/"},"modified":"2012-07-17T14:14:22","modified_gmt":"2012-07-17T14:14:22","slug":"bmw-details-cos","status":"publish","type":"post","link":"https:\/\/blogs.thesocialmedia.com\/petrol-head\/2008\/02\/10\/bmw-details-cos\/","title":{"rendered":"BMW details cost cuts"},"content":{"rendered":"<p><a href=\"http:\/\/blogs.thesocialmedia.com\/petrol-head\/files\/2012\/07\/dcp_0894a.jpg\"><img decoding=\"async\" class=\"image-full\" alt=\"Dcp_0894a\" src=\"http:\/\/blogs.thesocialmedia.com\/petrol-head\/files\/2012\/07\/dcp_0894a.jpg\"  style=\"float: left;margin: 0px 5px 5px 0px\" \/><\/a><br \/> BMW has unveiled the <a href=\"http:\/\/www.petrol-head.com\/2007\/12\/bmw-to-eliminat.html\">plan to cut costs<\/a> by \u20ac6 billion by 2012. Two-thirds of the amount will achieved by slashing material costs.<\/p>\n<p>Chief Executive Nobert Reithofer gave concrete details about the new strategy adopted by the car maker in last September. He announced that BMW will cut costs by slashing material costs. He also revealed that the personnel costs will drop by up to \u20ac500 million a year from next year. The company signed agreement with the union leaders which favors temporary staff and promote early retirement or buyout offers with filling the left vacancies.<\/p>\n<p>The car maker confirmed that it plans to increase its profit margin from a current 6 percent to 8-10 percent by 2012. However the company also added that a weak dollar would make the goal harder to achieve.<\/p>\n<p>BMW also expects to increase the part of shared components for its future models. Chief Financial Officer Michael Ganal said BMW was making &#8220;good headway&#8221; in talks with other carmakers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BMW has unveiled the plan to cut costs by \u20ac6 billion by 2012. Two-thirds of the amount will achieved by slashing material costs. Chief Executive Nobert Reithofer gave concrete details about the new strategy adopted by the car maker in last September. He announced that BMW will cut costs by slashing material costs. He also [&hellip;]<\/p>\n","protected":false},"author":351,"featured_media":5528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bmw"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BMW details cost cuts - Petrol Head<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.thesocialmedia.com\/petrol-head\/2008\/02\/10\/bmw-details-cos\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BMW details cost cuts - Petrol Head\" \/>\n<meta name=\"twitter:description\" content=\"BMW has unveiled the plan to cut costs by \u20ac6 billion by 2012. Two-thirds of the amount will achieved by slashing material costs. Chief Executive Nobert Reithofer gave concrete details about the new strategy adopted by the car maker in last September. He announced that BMW will cut costs by slashing material costs. 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