German Political Youth-wing Leader Calls for BMW to Be Put under Collective Ownership

THE TELEGRAPH: Germany’s main centre-Left party has been rocked after one of its most prominent figures called for the country’s leading brands to be put under collective ownership.

Kevin Kühnert, the leader of a Momentum-style grassroots movement in the Social Democratic Party (SPD), said German industrial giants such as BMW and Siemens should be owned jointly by their workers.

“There is nothing wrong with the BMW brand. The only question is why BMW should belong to a few people who have the sole right to the profits,” Mr Kühnert said in an interview with Germany’s Zeit newspaper.

“The distribution of profits must be democratically controlled. That excludes a capitalist owner. Without a form of collectivisation, it is unthinkable to overcome capitalism.” » | Justin Huggler, Berlin | Thursday, May 2, 2019

ZEIT ONLINE: Er hat das S-Wort gesagt! »

BMW CEO Faints during News Conference at Frankfurt Auto Show

The CEO of BMW Harald Krueger, fainted during a news conference at the Frankfurt Auto Show. Staff rushed to help him back onto his feet and off the stage. BMW spokesperson told media that Krueger has been traveling a lot recently and didn't feel well.

China Removes Audis and BMW Cars from Official List
THE DAILY TELEGRAPH: When driving in China, it is easy to spot government officials: they are the ones in the luxury German saloons, usually with blacked-out windows.

Each year, the Chinese government spends roughly £8 billion on buying cars, and owns more than five million, and until now Audis and BMWs have been the marques of choice for officials in all but the most remote villages.

Now, however, the government appears determined to stop the trend. A draft list of 412 car models permitted for procurement has no foreign cars on it at all. Most of the cars, indeed, are relatively small and cost under 180,000 yuan (£18,000), roughly half the price of an Audi A6.

In Beijing, Audi dealerships said they had not yet heard the news.

Audi, however, depends on the Chinese government for one-fifth of its sales in China.

The car has become so ubiquitous as a symbol of wealth and privilege in China that half of the world's Audi A6s are sold on the mainland. » | Malcolm Moore, Beijing | Tuesday, February 28, 2012

BMW Dynasty Breaks Silence Over Nazi Past

THE DAILY TELEGRAPH: The dynasty behind the German car manufacturer BMW has broken its silence over its dark Nazi past and admitted to using forced labourers in its factories and profiting from the "aryanisation" of Jewish businesses.

The Quandt family empire, which became a major shareholder in BMW after the Second World War building it up to become one of the most desirable car brands, launched a project to investigate its Nazi-era activities after unpleasant revelations were aired in a 2007 TV documentary.

The ensuing research using company files from the 12-year period of the Third Reich has established the depth of collaboration between the family patriarch, Günther Quandt and his son Herbert, and Hitler's regime. » | Fiona Govan, Berlin | Thursday, September 29, 2011

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News Hub: BMW's New M3

BMW Sales Dip More Than a Quarter
BMW logo courtesy of Google Images
BBC: German carmaker BMW has seen its global monthly sales fall by more than a quarter, as consumers tighten their belts amid the economic slowdown.

BMW brand sales fell 26.2% in November from the same month a year ago, said the firm, while sales of its UK-based Mini subsidiary declined 20.8%.

The firm has already said its Mini plant in Oxford will close on Friday for an extended Christmas shutdown.

It is closing the factory for four weeks instead of the usual two.

November sales at BMW's luxury Rolls-Royce arm were down 18.5%.

For the whole BMW group, sales fell 25.4% to 96,570 in November, compared with a much slower decrease of 8.3% to 113,005 in October. >>> | December 5, 2008

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’Worst Crisis Since World War II’: German Auto Industry Facing the Abyss
SPIEGELONLINE INTERNATIONAL: More than 1.5 million workers in Germany depend on the automobile industry for their jobs. But that industry is now facing one of its worst crises ever. Respected giants BMW and Mercedes are particularly exposed as sales plummet.

It was time for Martin Winterkorn to relax. The exhausted chairman of the VW Group was sitting in a leather seat on the company jet, coming from a conference in Berlin where he warned attendees of the consequences of the financial crisis. It had been a long day. It was 9 p.m. and he was still in the air.

"We have never before seen this kind of a crisis," Winterkorn, 61, said at the conference. The German auto industry, he told his audience, must prepare itself for a "tough, prolonged dry spell." It would not be possible to avoid "difficult cuts" and "painful" measures, Winterkorn said.

Even after the conference, sitting in the company jet, the head of VW was still preoccupied with the question: "How bad is it really?" Winterkorn has been in the industry for decades, and he has weathered many a crisis. But now he too is baffled. "I don't know what else is going to happen," he said.

According to Dieter Zetsche, the CEO of Daimler, there are those in the industry who believe that "up to 100,000 jobs will be lost in the German auto industry in the next 10 years." Some, says Zetsche, are even suggesting that this is "the worst crisis since World War II." >>> By Dietmar Hawranek | November 25, 2008

NZZ Online: Porsche drosselt Produktion: Absatzeinbruch erwartet

Der Sportwagenbauer Porsche erwartet im laufenden Jahr einen Absatzeinbruch und drosselt seine Produktion. Aufgrund des weltweiten Nachfragerückgangs hätten im Stammwerk Zuffenhausen erstmals am vergangenen Freitag die Bänder stillgestanden, teilte das Unternehmen am Dienstag in Stuttgart mit. >>> | 25. November 2008

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