Auto sales have risen steadily for the last years in the US and they are likely hitting a peak. Many automakers are worried about losses from high residuals given on leased vehicles when they come back because used values are going to take a hit. The changes BMW has made recently in leasing are likely in anticipation of this:
https://www.bloomberg.com/news/artic...-used-car-glut
Also, 57% of BMWs are leased, so the exposure is significant:
http://blog.caranddriver.com/the-mos...nly-purchased/