Company report: BMW

 Company report Introduction: Bayerische Motoren Werke (better known as BMW) is one of Europe’s top automakers. Despite an overall decrease in luxury vehicles sales, BMW sold 307,020 vehicles in the US last year, up 4% from 2004. A few big reasons for that are BMW quality, user satisfaction, and resale value. BMW also boosted up its sales with its new-look 3-series sedan and the MINI brand. But one more very important factor is marketing. With its company’s tagline “The Ultimate driving Machine”, “Joy in Driving”, “Sheer Driving Pleasure”, BMW vehicle became an expensive and prestigious ‘toy’ for rich, independent and adventurous person. BMW is a symbol of luxury. It’s no surprise that BMW teamed up with James Bond in “Tomorrow Never Dies”… The very well-known BMW emblem has nothing to with the picture of BMW that it has nowadays. The emblem symbolizes a rotating airplane propeller from BMW’s early years as an aircraft engine manufacturer. Today, more than 90 years after, BMW is a global company that annually produces hundreds of thousands of engines, motorcycles, and cars. History: The history of the Bavarian Motor Works is a history of innovation, dedication and determination. Bayerische Motoren Werke AG (BMW), German manufacturer of automobiles, motorcycles, and aircraft engines. The company is based in Munich, Germany. The English translation of the company's name is Bavarian Motor Works. The company traces its origins to 1913, when a Bavarian named Karl Rapp began an aircraft-engine shop in Munich named Rapp Motoren Werke. In 1917 Rapp resigned and the company, led by Austrian engineer Franz-Josef Popp, changed its name to Bayerische Motoren Werke. That same year chief engineer Max Friz designed the company's first aircraft engine, the six-cylinder Type IIIa, which created strong demand for BMW engines. When the 1919 Treaty of Versailles prohibited German companies from producing aircraft and aircraft engines, BMW switched to making air brakes for railway cars. In 1923 Friz developed the company's first motorcycle, the R32, a model that held world speed records for motorcycles during most of the 1930s. In 1928 the company entered the automobile business by acquiring Fahrzeugwerke Eisenach (Eisenach Vehicle Factory), a maker of small cars based in Eisenach, Germany. In the 1930s BMW began producing a line of larger touring cars and sports cars, introducing its highly successful model-the 328 sports car-in 1936. After World War II ended in 1945, Allied forces dismantled the company's main factories. BMW made kitchen and garden equipment before introducing a new, inexpensive motorcycle to the German market in 1948. The company's return to auto production in the 1950s resulted in poor sales. In the 1960s the company turned its fortunes around by focusing on sports sedans and compact touring cars, and it began to compete with Mercedes-Benz in the luxury-car markets of Europe and the United States. BMW's U.S. sales peaked in 1986 but then dropped steeply, partly due to competition from two new luxury cars-Lexus, made by Toyota Motor Corporation, and Infiniti, made by Nissan Motor Co., Ltd. The 1989 collapse of the Berlin Wall led to a boom in car sales in Europe, and in 1992 BMW outsold Mercedes-Benz in Europe for the first time. Key people: Founder of a company: Karl Friedrich Rapp (1913) Chairman, Supervisory Board: Joachim Milberg Chairman of the Board of Management: Norbert Reithofer Member, Management Board, Finance: Stefan Krause Biography of CEO, Norbert Reithofer: Born in 1956. Chairman of the Board of management since 2006. Dr. – Ing. Norbert Reithofer was Director of the Body-in-White Production Division from 1991 to 1994. In the years from 1994 to 1997, he served as Technical Director for BMW South Africa before assuming the role of President of BMW Manufacturing Corporation, USA (South Carolina). From 2000 to 2006, Dr. – Ing. Norbert Reithofer was the Member of the Board of Management responsible for the department of Production. On 1 September 2006, he succeeds Dr. Helmut Panke as Chairman of the Board of Management of BMW AG. Significant developments: 1916 Founding of Bayerische Flugzeug-Werke 1917 Founding of Bayerische Motoren Werke GmbH. 1918 BMW GmbH becomes BMW AG. Franz Joseph Popp, the general manager of the former limited-liability company, was appointed General Director. 1922 The company sold its engine production operations, together with the name BMW, to Bayerische Flugzeug-Werke (BFW), and moved into its factory. 1934 BMW AG hived off its Aircraft Engine Division into BMW Flugmotorenbau GmbH. 1936 BMW AG and BMW Flugmotorenbau GmbH established the aircraft engine manufacturer Flugmotorenfabrik Allach GmbH. The plant underwent rapid expansion for the volume production of aircraft engines up until 1941. 1939 Brandenburgische Motorenwerke GmbH based in Berlin-Spandau and BMW combined their development activities for aircooled aircraft engines. One year later, shortly before the outbreak of the Second World War, BMW took over Bramo and incorporated the Spandau plant into BMW AG as BMW Flugmotorenwerke Brandenburg GmbH. 1945 The US military government issued orders in October 1945 that plants in Munich and Allach be dismantled (way of reparations). As a consequence, BMW lost control over its assets until 1949. 1950 The company’s situation became increasingly precarious. At the end of 1959, Daimler-Benz made an offer that involved the restructuring of BMW for a limited time. This was rejected. One year on BMW was restructed under Quandit’s control. BMW remained independent. 1967 The BMW Munich plant reached its capacity limits in the mid-1960s. In 1967 it bought crisis-ridden company Hans Glas GmbH, with its three plants in Dingolfing and Landshut. Dingolfing became home to the largest BMW plant in the world. 1969 Production of BMW motorcycles was consequently moved to Berlin-Spandau. 1970 The new chairman of the Board of Management was accepted: Eberhard v. Kuenheim, aged just 40. Under his leadership, BMW developed from a national company of European significance into an international brand of global standing. 1972 BMW ventures into South Africa. Also returns to motor sport. 1973 Subsidiaries established worldwide. 1979 An engine plant was built in Steyr. The plant is now the group’s competence centre for diesel technology. 1987 To relieve the pressure on the BMW Munich plant, where now only the BMW 3 Series was built, the decision was taken to erect a new plant in Regensburg in response to growing demand for this model. The plant has since been gradually expanded. 1990 The Reasearch and Innovation center was opened, which comprises design, construction and testing facilities, a prototype construction unit and complete pilot plant. 1992 BMW ventures into the USA. 1994 In order to expand rapidly and gain a presence in market segments in which it had not previously been involved, BMW purchased the British-based Rover Group, with the active brands Rover, Land Rover, MINI and MG. 1998 The BMW Group acquired the rights to the name Rolls-Royce for cars – which at that time were being built by the Wolkswagen Group. In accordance with the terms of the agreement, the BMW Group was not permitted to exercise the brand rights until 2003, but it already started planning new models and a new Rolls-Royce vehicle factory in Goodwood, West Sussex. 2000 1)The BMW Group sold Rover and MG. Land Rover was likewise sold shortly afterwards. 2) To mark the 70th birthday of its outgoing Supervisory Board Chairman Ebhard v. Kuenheim, the BMW Group decided to open a foundation alongside the Herbert Quandt Foundation. Competitors: BMW's main competitors include Acura, Alfa Romeo, Audi, Infiniti, Jaguar, Lexus, Mercedes-Benz, Porsche, Saab and Volvo. Products: Automobiles (models include the 1 Series, the 3 Series (coupe, sedan, convertible, and compact) 5 Series (sedan and touring), 6 Series (coupe and convertible), and 7 Series sedan. Other models include the M3 coupe and convertible; the X3 and X5 sport utilities; and the Z4 roadster), Motorcycles (K 1200 GT, R 1200 CL, and R 1150 R models, among others), the MINI automotive brand, Rolls-Royce Motor Cars, and software (softlab GmbH). BMW's motorcycle division also offers a line of motorcycling apparel such as leather suits, gloves, and boots. Financials: From 2003-2005 company’s sales were growing up. From year 1999-2001 company’s sales were falling down. The year 2005 were the most successful for the company: total number of automobiles sold - 1,327,992. In comparison: in 2003 – 1,104,916; 2004 – 1,208,732. The most unprofitable years were 2001: total number of automobiles sold – 905,657. Interesting fact: even though in 1999 BMW did not have MINI and Rolls Royce yet, the sales were bigger (Automobiles sold total – 1,180,429) than in 2003 (the first year BMW started selling MINI and Rolls Royce). BMW annual income statements(all amounts in millions of US Dollars) Year Revenue Gross Profit Operating Income Total Net Income Dec ‘05 55,254.7 12,629.4 4,492.0 2,651.6 Dec ‘04 60,472.9 14,009.6 5,108.2 3,030.8 Dec ‘03 52,122.2 11,842.8 4,208.7 2,443.9 As the table shows, the year 2004 were the most successful to BMW AG. A big success was brought to BMW by introducing BMW's X5 sport-utility and BMW X3 SUV. Due to the X3's introduction, sales of BMW's SUVs have increased to 55,173 units in the U.S. in the first ten months of 2004, almost double the 31,958 X5s that BMW sold in the same period last year. Works cited “BMW”. Wikipedia – The Free Encyclopedia. Oct. 2006. 4 Dec. 2006

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