In the wake of the economic downturn, consumer demand for new cars is falling. As a consequence, car makers across the USA and Europe are canceling or postponing plans to introduce new car models, including 4x4s.
According to Automotive News Europe, Renault, Opel and BMW are among car companies stopping or delaying planned new models due to difficult economic conditions. Most notably, BMW has axed its planned X7 premium 4x4. The model was to be aimed at rivals such as the Land Rover Range Rover.
Besides saving on product development, some European carmakers are also cutting production and revising down their unit sales and profit forecasts for 2008.
Here is a summary of new models being axed or delayed:
* Renault Espace, Megane crossover, Vel Satis replacements
* Opel/Vauxhall flagship, small SUV
* BMW X7
* Volvo C30 variants