BMW To Reach New Heights, Set New Goals - Says CEO Reithofer

“Big ideas, make businesses big”, some management Guru once said. Dr. Norbert Reithofer, CEO, BMW seems to be following the same advice. Recently in an annual general meeting held at Munich, Germany he appealed to employees and well wishers not only to increase sales target, but also to increasing number of employees and number of models too.

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In the annual meeting at Munich, a review of previous fiscal year (2010) was taken. Reithofer was pleased to report the outstanding performance by the automaker.  The company made heavy profits in every aspect and in every fiscal. To tell you some statistics, in the first quarter company reported revenue increment of 16,037 million Euros from 11402.307 million Euros. EBIT and EBT were recorded as 1902 and 1812 million Euros respectively.  Not only this, the net profit hit a sharp edge. It is nearly four times (3.7) the profit recorded in 2010. In the same year, company could manage to achieve a sales target of 1.46 million units and more than 110,000 motor bikes. The target set for this year is 1.5 million units. The automaker is showing a constant upward trend, which is a very positive aspect.

Recently BMW showcased its concept car “The BMW Vision Efficient Dynamics concept car” and will soon be launched in India. This hybrid car can achieve a speed of 0-100Kmph speed in merely 4.8sec. It is designed as a sports car and has a top speed of 250Kmph. As it is a hybrid, it also runs on Lithium-ion battery apart from Diesel engine. The car is very fuel efficient with a mileage of 26.5Kmpl. In my opinion it is a very good hybrid model. The lithium-ion polymer battery can be charged within about two and a half hour which is quite reasonable.

Mr. Praful Patel, Minister for Heavy Industries and Public Enterprises was present at the unveiling ceremony. The minister expressed the need for India to learn about hybrid technology. He felt that no tax should be imposed on the new diesel engine of car because it was a very efficient and green engine. It would have minimal polluting effect on environment.

It appears that the car would be a strong contender for the place of market leader. BMW has currently a fleet of 50 different cars under its name. The germen automaker has currently 95,500 employees and plans to hire 2000 more. Out of which more than half of it would be from Germany itself.  Looking at the prospects of company, not only the insiders but also various other people look optimistic. Bruce Yandle, Dean emeritus of Clemson University’s College of Business and Behavioral Science said, “Earnings by definition are a reflection of past successes. What BMW is saying now is that good things continue with increasing momentum.”

BMW aims to set new standards not only in terms of sales but also in terms of latest technology cars. It is planning to schedule the launch of its i3 model in 2013. The earlier model was i8. The car will feature more modernity in terms of looks too. It will give a perfect experience of driving. As always, customer satisfaction is the aim of company.
In my opinion, Mr. Yandle is speaking truth. BMW has been showing an upward trend and it is on that basis Mr.Reithofer is setting target. The CEO is quite aware of the potential of his colleague and the company team as a whole. Seeing the automaker’s progress, it won’t be long when he will set even higher targets for his company standing on the same dais.

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