BMW 2006 Annual Report Download - page 150
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10
Growing profitably – worldwide. The BMW Group aims to continue its success
with this strategy in the future. Numerous potentials for further growth exist.
For
example, demand for premium automobiles is increasing worldwide, with
pre-
mium automobile markets growing more strongly than the so-called volume
segments. The BMW Group intends to participate in this growth.That is why it
is extending its product range and is pressing forward into new segments with
new models.
In doing so, the Company is meeting the customers’ wish for
individualised vehicle concepts. With success: in the last six years alone, the
BMW Group’s automobile sales have risen by almost two thirds. This growth is
the result of the
most extensive product and market initiative in the Company’s
history. At the
same time, the financial services segment also grew steadily and
is now one of the mainstays of the Group’s business development.
However, for the BMW Group growth means not only launching new, desirable
products onto the market, but also developing new markets at the same time –
and at exactly the right time. In doing so, the BMW Group follows the principle
of “production follows market”. First of all, it develops the market with importers
and then it enters the market with its own sales subsidiary. If a market offers
corresponding potential, the Company establishes its own production facilities
there. Numerous examples demonstrate the success of this strategy: the
BMW
Group built its own BMW plant in South Africa in 1974, which today plays
an important role in the Company’s worldwide production network. In the United
States, the BMW Group has been represented by its own plant in Spartanburg,
South Carolina, since the mid-1990s. Since then the BMW Group’s sales on the
world’s largest automobile market has more than trebled; the BMW Group is the
leading European premium manufacturer in the United States.
In 2004, a sales and production joint venture was opened in cooperation
with a partner in the emerging Chinese market. Since then sales have more than
doubled there, too. In 2007, the BMW Group is now entering India with its own
sales subsidiary and an assembly plant for BMW 3 and 5 Series automobiles.
Thus, the BMW Group currently has 23 production locations in13 countries and
is represented by 39 of its own sales subsidiaries all over the world.