May 16, 2003

BMW to build Mini convertible

Munich, Germany – Dr. Helmut Panke, Director of the Board of BMW AG, announced yesterday that the company will produce a Mini Cabrio model.

“The MINI brand is an important pillar of our premium brand strategy and we are continuing with our investments. I can hereby confirm that we will be expanding the Mini product range by a four-seater cabrio with the aim of gaining new customers in the open-top small car segment.”

The precise date when the MINI Cabrio will become available to customers has not been fixed yet.

In March of this year the 200,000th MINI was sold since market launch. The strongest MINI market still is the “home market” in Great Britain. In the first four months of this year more than 15,300 models were sold there. After the US with approximately 11,300 MINI models sold by the end of April, Germany remains the third-largest market with almost 9,300 units sold in the same period of time. This means that MINI was able to increase sales by a third in Germany compared to the first four months of the last year. In Canada, both the MINI Cooper and the MINI Cooper S continue to enthusiastically attract new owners with approximately 2800 vehicles delivered since MINI’s launch on March 22, 2002. The 115 hp MINI Cooper retails for $25,200, while the 163 hp MINI Cooper S retails for $29,950.

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