BMW lost its crown as the top-selling luxury brand around the world to fellow German rival Mercedes-Benz. In 2012, the BMW brand led Mercedes-Benz in global annual sales, but Mercedes-Benz gained the top spot in 2016 and has held it since. Mercedes has also surpassed BMW in its home continent of Europe, a major market for both. BMW appointed a new CEO in August 2019 and has assured investors it is on its way to reinvigorating its brand, but progress could be a bit slow.

» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

#CNBC
#BMW

Why BMW Is No Longer The Ultimate Driving Machine