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.
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