Quandt family renews commitment to BMW

Article by Christian A., on December 6, 2010

As Volkswagen AG's Audi threatens BMW's lead in the luxury segment, the Quandt family, BMW AG's dominant shareholder, has come out to profess its commitment to the company. Stefan Quandt was at an event last Tuesday in Munich to celebrate the 50th anniversary of the shareholders' vote to approve the family’s rescue of BMW.

He said at the event that the family is “looking forward” to shape the future with BMW. Quandt was quoted to have said, “Lead, don't follow - that's the entrepreneurial calling of BMW.” About 50 years ago, investor Herbert Quandt prevented a takeover attempt by Daimler AG (then called Daimler-Benz).

He had financed the development of the 1500-model mid-sized sedan. The family currently owns 46% of BMW, and Stefan Quandt and Susanne Klatten, his two children, are on the supervisory board.

BMW has overtaken Daimler's Mercedes-Benz division as the world's top premium carmaker five years ago. BMW aims to nearly double annual sales to 2 million vehicles by 2020. But Audi is on a roll and has set a goal to skip over BMW and Daimler to achieve the title of the largest maker of luxury cars by 2015.

Stefan Bratzel, director of the Center of Automotive Management in Bergisch Gladbach, Germany, said that at some point, Volkswagen will have benchmark costs and BMW “has to ask itself whether it can face this challenge on its own.”

He added that BMW will have to determine if it will accept cross shareholdings to enter into long-term strategic partnerships. [via autonews - sub. required]

Topics: bmw, germany

If you liked the article, share on:

Pin It

Comments

Recommended

Lamborghini has disclosed that it is looking into the possibility of releasing electric vehicles. With the Volkswagen Group revealing that it will be releasing electric vehicles within several years, there...
by - March 25, 2017
Daimler AG, through its Smart division, has disclosed that its two electric models, the Smart ForTwo and the Smart ForFour are now open for orders in Germany. Official market launch...
by - March 25, 2017
Lamborghini has officially offered clear proof that the Huracán Performante was able to set a new record at the Nürburgring Nordschleife with a time of 6:52.01 It was in early...
by - March 25, 2017
Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries