The Story of Bayerische Motoren Werke Aktiengesellschaft (BMW)
History of BMW
Founded in 1916, BMW initially produced aircraft engines during the First World War. Post-war restrictions led the company to pivot to motorcycle production in 1923, and eventually, car manufacturing in 1928. BMW's focus on innovation and luxury positioned it as a leading automotive brand worldwide. During the Second World War, the company once again manufactured aircraft engines, returning to automotive production afterwards. The latter half of the 20th century saw BMW expand globally, solidifying its status in the luxury car market.
Core and Side Businesses
BMW's core business lies in the design, production, and sale of high-quality automobiles and motorcycles. The BMW, MINI, and Rolls-Royce brands each target specific segments within the luxury vehicle market, offering a range of products from compact cars to opulent sedans and powerful motorcycles. Side businesses complementing this core include financial services, which provide financing and leasing options to customers, and mobility services under the BMW i Ventures branch, investing in innovative mobility solutions like electric vehicles and autonomous driving technologies.
Current Market Status
As of 2023, BMW continues to be a significant player in the global automotive industry. The company has embraced sustainability and innovation, focusing on electric vehicles (EVs) and digital features to meet changing consumer demands and regulatory standards. Despite challenges such as supply chain disruptions and competition from traditional and new entrants in the EV market, BMW's dedication to quality, luxury, and technological advancement keeps it competitive. Its commitment to sustainability is evident in its plans to increase the share of EVs in its sales, aiming for a greener future.