FRANKFURT — BMW last built an 8-series model in 1999, but CEO Harald Krueger says the company will revive the upmarket coupe line in 2018.
"We are refreshing our entire product portfolio and strengthening the performance side," Krueger told shareholders at the company's annual general meeting in Munich last week. "Our strategy will focus on the luxury segment, where there are margins to be earned."
BMW aims to increase revenues in the luxury segment "significantly" by 2020, Krueger said.
The 8 series will be based on BMW's 7-series range-topping sedan and will fill the gap between the 7 series and BMW Group's Rolls-Royce Wraith in the "150,000 euros-plus" range (about $165,000), according to company sources.
There was no official word on when the 8 series would arrive in the U.S., but it has been projected for 2020.
A two-door coupe is planned to arrive in late 2018, and a convertible a year later. An M8 performance version is under discussion. A 12-cylinder version is also coming, sources last year told Automobilwoche, an affiliate of Automotive News.
BMW built an 8 series from 1989 to 1999.