Introduction
BMW (Bayerische Motoren Werke AG) is a German multinational global level approach company that manufactures luxury vehicles & motorcycles. BMW is primarily headquartered in Munich, Germany. Let’s know When was BMW founded?
BMW provides its automobile products under the brand BMW, Mini & Rolls Royce where its motorcycles were branded as BMW Motorrad. In the year 2017, BMW took 14th position in producing or manufacturing motor vehicles at the global level.
Answer:
BMW isn’t new to the market of manufacturing motor vehicles. It has decades of experience in developing & manufacturing new motor vehicle products to leave it to market. So, it has a history that inspired various businesses to manufacture quality products for the world.
When was BMW founded?
Bayerische Flugzeugwerke AG came into existence in 1916. In 1922, the company changed its name to Bayerische Motoren Werke (BMW) but initially, this name came into existence in the year 1913. BMW’s first product that was presented to the market was a straight-six aircraft engine, which was named BMW IIIa and designed in 1917 by engineer Maz Friz. As of the end of World War 2, its business concerned manufacturing engines, farm equipment, household products & railway engines. BMW produced its first motorcycle BMW R 32, in the year 1923.
Founders of BMW were Camillo Castiglioni, Franz Josef Popp & Karl Rapp.
History of BMW
In 1917, every product manufactured by BMW was added with the BMW emblem, which also represented Bavarian state colors.
In 1928, BMW started manufacturing automobiles just after purchasing the company Fahrzeugfabrik Eisenach. During the Pre-Second World War period, all BMW cars were being made at the plant in the Thuringia region, Germany. Under the license of Austin Motor company, BMW made its first small car during the year 1929.
In the 1930s of BMW was just invested in producing sports & large luxury cars. Until the end of World War II, BMW was constantly focused on manufacturing aircraft engines, motorcycles & automobiles. BMW’s factories were bombed during World War II, then all facilities for producing motor vehicles & aircraft were banned. For survival, the company started making pots, pans, & bicycles.
BMW restarted motorcycle production in 1948. In 1952, BMW resumed car production in Bavaria. The various ranges of cars were expanded in 1955. But limited sales of luxury cars & less than minimum profit margin brought BMW into financial troubles. The biggest investment from Herbert Quandt & Harald Quandt to BMW resulted in fighting back the takeover possibilities by rival Daimler Benz.
BMW 700 made BMW recover its financial losses because it has been proven successful. Through the 1960s, BMW expanded its value in the market by adding coupe & luxury sedan models.
BMW M division released its first mid-engine supercar in 1978, BMW M5 in 1984, BMW M3 in 1986 & BMW presented its first V12 engine in 1986.
In 1994, BMW owned the Rover group but it was a disaster for BMW because it went on financial losses. In 2000, BMW kept only mini brands of Rover & sold off every big brand.
The first modern mass-produced turbocharged petrol engine was presented in 2006. And most engines were switched over in the 2010s. As BMW has a reputed brand value in sports cars. So BMW’s first front-wheel car was the BMW 2 Series Active Tourer multi-purpose vehicle in 2014.
In the year 2021, BMW announced that its sales got rigorously impacted in 2020 due to the COVID pandemic & sales rate fell by 8.4%. But in the fourth quarter of 2020, BMW witnessed a rise of 3.2% due to its customer’s demands.
Revenue report of BMW for the year 2016-2020
- In 2016, BMW made revenue of €94.1 billion & Net Income was €6.8 billion.
- In 2017, BMW made revenue of €98.6 billion & Net Income was €8.6 billion.
- In 2018, BMW made revenue of €97.4 billion & Net Income was €7.1 billion.
- In 2019, BMW made revenue of €104.2 billion & Net Income was €4.9 billion.
- In 2020, BMW made revenue of €98.9 billion & Net Income was €3.8 billion.
Conclusion
BMW has a worldwide establishment. As it is an old company it’s very well known to every country’s citizens. This also helps BMW to establish itself in many more countries which they have left.
BMW provides vehicles like sports cars, motorcycles & branded cars. So, its business is vast by covering various market fields & it also stays in a leading position in its automobile manufacturing industry. In the future, the company is going to present many more products with more technologies, services, advantages & possibilities.
Frequently Asked Questions
1. What are BMW’s goals?
Answer: Considering the year 2021, till the end of this year BMW is going to bring 1 million electrified vehicles. BMW is constantly working to make these motives successful. BMW is eagerly waiting to present customer’s a convenient electrified vehicle.
2. What is BMW’s strategy?
Answer: BMW has a strategy that it should constantly introduce new models to the customers. Because the BMW company always wants to stay in a leading position from year to year. There are competitors for BMW with whom they have to battle to stay in the leading position.
