MUNICH — German luxury car manufacturer BMW
will throw a lavish 100th birthday party on Monday, looking back at its
often troubled history and forward as it seeks to adapt to the age of
"personal mobility".
Since its First World War beginnings, it has
grown into a multinational company with plants in 14 countries, 116,000
employees and €80bn in annual sales. BMW today makes cars and
motorcycles and its brands include Rolls-Royce and Mini.
Leading its rival Daimler-Benz in units sold, and with VW damaged by the emissions scandal, BMW remains in pole position at the high end of the motor vehicle industry and is seen as a symbol of German engineering prowess. It started life in troubled times — on March 7 1916, making aircraft engines as Germany’s "Bavarian Aircraft Factory".
After the war, when defeated Germany was forbidden from manufacturing aircraft, it renamed itself Bayerische Motoren Werke ("Bavarian Engine Factory") in 1922. BMW adopted a propeller-shaped logo as a salute to its aerospace origins.
"The product for which BMW is best known nowadays was actually the last product to be taken into its portfolio," says Manfred Grunert, the company’s in-house historian.
After producing its first motorcycle in 1923, BMW began making cars in 1928. In the 1930s, it started on its own designs, such as the 326 limousine and the 328 roadster. As the Nazis came to power, BMW again became involved in building aircraft engines.
At the end of the Second World War, with Germany in ruins, the company survived by making household utensils. It resumed motorcycle production in 1948 and car production in 1952, but its success was limited. "BMW had serious financial problems in the 1950s," Mr Grunert said. "BMW did not participate in Germany’s post-war economic miracle."
In 1959, the group was about to be taken over by arch-rival Daimler-Benz, but a group of shareholders rebelled. One of them, Herbert Quandt came to BMW’s rescue, investing massively in the company. "Without his involvement, BMW would today simply be a factory of Daimler," Mr Grunert said.
The Quandt family remains BMW’s biggest shareholders, with a stake of 47%. Peter Fuss, at consultants EY, said the presence of a "strong shareholder" willing to take risks was a major factor behind its success.
AFP
Leading its rival Daimler-Benz in units sold, and with VW damaged by the emissions scandal, BMW remains in pole position at the high end of the motor vehicle industry and is seen as a symbol of German engineering prowess. It started life in troubled times — on March 7 1916, making aircraft engines as Germany’s "Bavarian Aircraft Factory".
After the war, when defeated Germany was forbidden from manufacturing aircraft, it renamed itself Bayerische Motoren Werke ("Bavarian Engine Factory") in 1922. BMW adopted a propeller-shaped logo as a salute to its aerospace origins.
"The product for which BMW is best known nowadays was actually the last product to be taken into its portfolio," says Manfred Grunert, the company’s in-house historian.
After producing its first motorcycle in 1923, BMW began making cars in 1928. In the 1930s, it started on its own designs, such as the 326 limousine and the 328 roadster. As the Nazis came to power, BMW again became involved in building aircraft engines.
At the end of the Second World War, with Germany in ruins, the company survived by making household utensils. It resumed motorcycle production in 1948 and car production in 1952, but its success was limited. "BMW had serious financial problems in the 1950s," Mr Grunert said. "BMW did not participate in Germany’s post-war economic miracle."
In 1959, the group was about to be taken over by arch-rival Daimler-Benz, but a group of shareholders rebelled. One of them, Herbert Quandt came to BMW’s rescue, investing massively in the company. "Without his involvement, BMW would today simply be a factory of Daimler," Mr Grunert said.
The Quandt family remains BMW’s biggest shareholders, with a stake of 47%. Peter Fuss, at consultants EY, said the presence of a "strong shareholder" willing to take risks was a major factor behind its success.
AFP
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