BMW North America CEO Jim O'Donnell has admitted that he's "disappointed" in the slow-selling 5-Series GT, which was designed as a replacement for the company's 5-Series station wagon.

In comments to Automotive News, O'Donnell said that the new version of the 5-Series has not attracted the customer that the company hoped. Designed to resemble a cross between a coupe and a large hatchback, the polarizing styling has put off some drivers, something that has hurt the automaker's sales.

"The disappointment I have is that I thought a lot of our 5-Series station wagon customers would go with the GT," O'Donnell told the news source. "In point of fact, that is not happening. We have lost those customers to the competition – mainly to Mercedes-Benz."

Besides the fact that the car isn't selling well, the sales that it is generating aren't necessarily good ones. O'Donnell commented that the GT was drawing a lot of buyers away from the 7-Series. The two vehicles are built on the same platform, but the GT is $13,000 cheaper while only adding a bit more bulk. That means the company is losing potential sales for the more expensive model.

It appears that the 5-Series GT will go the way of the dodo soon, but that doesn't necessarily mean it's a bad vehicle. Drivers who are interested in purchasing a used BMW may want to consider waiting for the GT to begin hitting the pre-owned market.