M for Macho - the BMW M3 Convertible

Hindsight is a wonderful thing but who would have imagined that since BMW introduced their new M3 Convertible in April this year, the car industry was to be hit hard by higher fuel prices, probably the wettest summer on record, the credit crunch, higher cost CO2-based resident parking permits and now the dwindling supply of city-slickers able to spend their monopoly money bonuses on go-faster flashy motoring toys.

Given the economic and weather climates we are suffering on the face of it not a good time to be selling an expensive, high performance convertible but BMW UK still expects to move 900 M3 Convertibles in the UK in a full year despite the price of £54,760 in manual gearbox form or £57,350 with the new seven-speed twin clutch M DCT auto/manual transmission.

BMW UK also expects to sell this year 1,900 M3 Coupes and 400 M3 Saloons. Pie-in-the-sky figures – perhaps only time will tell once we see the official end of year sales totals. But looking on the optimistic side the UK is BMW’s third largest market in the world and their sales so far this year are up by 8% over 2007, despite the credit crunch which has seen the overall new car market fall by 3.7%.

Also the UK is well established as the second largest market in Europe for open-top cars after Germany and the second largest market worldwide for BMW M products after the USA. The UK market for mid-size premium convertible cars has grown significantly in the past seven years. Total convertible car sales in the sector have risen from 9,910 in 2000 to 23,325 in 2007 – a 235% rise.

There is now another potential hiccup for the M3 Convertible. BMW UK is just about to introduce their face-lifted 3 Series Saloon and Touring ranges which go on sale shortly but Coupe and Convertible models will not get the styling and equipment updates until next year.

So some Convertible customers might now hold off until the revised models arrive and perhaps the economic climate improves or their bonuses are reinstated.

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