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Bayerische Motoren Werke AG, commonly abbreviated to BMW (German pronunciation: [ΛbeΛΚΙmΛveΛ] β), is a German multinational manufacturer of luxury vehicles and motorcycles headquartered in Munich, Bavaria, Germany. The company was founded in 1916 as a manufacturer of aircraft engines, which it produced from 1917 to 1918 and again from 1933 to 1945 creating engines for aircraft that were used in the Second World War.
Bayerische Motoren Werke AG
BMW Headquarters in Munich, Germany
Formerly
Rapp Moterenwerke AG
Company type
Public (Aktiengesellschaft)
Traded as
FWB: BMW
DAX component
Industry
Automotive
Predecessors
Otto Flugmaschinenfabrik
Rapp Motorenwerke
Fahrzeugfabrik Eisenach
Founded
27 October 1913; 110 years ago (as Rapp Motorenwerke)
Founder
Karl Rapp
Headquarters
Munich, Germany
Area served
Worldwide
Key people
Oliver Zipse (Chairman of management board)
Norbert Reithofer (Chairman of supervisory board)
Products
Carsmotorcyclesbicycles
Production output
Increase 2,661,922 cars (2023)
Increase 221,988 motorcycles (2023)[1]
Brands
Automobiles
Alpina
BMW (i, M, X, Z)
DriveNow
Mini
Rolls-Royce
Motorcycles
BMW Motorrad
Services
Car-sharing services, financing, leasing, insurance and other financial services
Revenue
Increase β¬155.50 billion (2023)[1]
Operating income
Decrease β¬17.096 billion (2023)[1]
Net income
Decrease β¬12.165 billion (2023)[1]
Total assets
Increase β¬250.89 billion (2023)[1]
Total equity
Increase β¬92.923 billion (2023)[1]
Owners
Stefan Quandt (25.8%)
Susanne Klatten (20.9%)[2]
Number of employees
154,950 (2023)[1]
Website
bmw.com (brand)
bmwgroup.com (corporate)
Automobiles are marketed under the brands BMW, Mini and Rolls-Royce, and motorcycles are marketed under the brand BMW Motorrad. In 2023, BMW was the world’s ninth-largest producer of motor vehicles, with 2,555,341 vehicles produced[3] and in 2022 the 7th largest by revenue.[4] In 2023, the company was ranked 46th in the Forbes Global 2000.[5] The company has significant motor-sport history, especially in touring cars, sports cars, and the Isle of Man TT.
BMW is headquartered in Munich and produces motor vehicles in Germany, Brazil, China, India, Mexico, the Netherlands (ceased in 2023),[6] South Africa, the United Kingdom, and the United States. The Quandt family [de] is a long-term shareholder of the company, following investments by the brothers Herbert and Harald Quandt in 1959 that saved BMW from bankruptcy, with the remaining shares owned by the public.
History
edit
Main article: History of BMW
The Otto Flugmaschinenfabrik was founded in 1910 by Gustav Otto in the Kingdom of Bavaria, which was a state of the German Empire. The firm was reorganized on 7 March 1916 into Bayerische Flugzeugwerke AG. This company was then renamed to Bayerische Motoren Werke (BMW) in 1922. However, the name BMW dates back to 1913, when a company to use the name was founded by Karl Rapp initially as Rapp Motorenwerke. The name and Rapp Motorenwerke’s engine-production assets were transferred to Bayerische Flugzeugwerke in 1922, who adopted the name the same year.[7] BMW’s first product was produced for fighter aircraft of the LuftstreitkrΓ€fte. It was a straight-six aircraft engine called the BMW IIIa, designed in the spring of 1917 by engineer Max Friz. Following the end of World War I, BMW remained in business by producing motorcycle engines, agricultural equipment, household items, and railway brakes. The company produced its first motorcycle, the BMW R 32, in 1923.
BMW became an automobile manufacturer in 1928 when it purchased Fahrzeugfabrik Eisenach, which, at the time, built the Austin 7 under licence from Dixi.[8] The first car sold as a BMW was a rebadged BMW Dixi called the BMW 3/15, following BMW’s acquisition of the car manufacturer Automobilwerk Eisenach. Throughout the 1930s, BMW expanded its range into sports cars and larger luxury cars.
Aircraft engines, motorcycles, and automobiles would be BMW’s main products until World War II. During the war, BMW concentrated on the BMW 801 aircraft engine using as many as 40,000 slave laborers.[9] These consisted primarily of prisoners from Nazi concentration camps, most prominently Dachau. Motorcycles remained as a side-line and automobile manufacture ceased altogether.
BMW’s factories were heavily bombed during the war and its remaining West German facilities were banned from producing motor vehicles or aircraft after the war. Again, the company survived by making pots, pans, and bicycles. In 1948, BMW restarted motorcycle production. BMW resumed car production in Bavaria in 1952 with the BMW 501 luxury saloon. The range of cars was expanded in 1955, through the production of the cheaper Isetta microcar under licence. Slow sales of luxury cars and small profit margins from microcars, meant BMW was in serious financial trouble and in 1959 the company was nearly taken over.