Bullish BMW breaks business records

Last November, BMW Philippines president Mark Gilbert told the local media that the BMW Group would end 2002 with good numbers. They did.

Less than two weeks ago, on the occasion of the First BMW Motoring Media Cup, a go-kart race held at the new and high-tech Manila Speedzone along Marcos Highway in Cainta, Rizal, the New Zealander president let loose several hard numbers that represented both international and local BMW business figures. Here are some, and they are quite impressive, to say the least.

In fiscal year 2002, the BMW Group’s total revenues rose by 9.9 percent to 42,282 million euros from 38,463 million euros in 2001. The revenues of the automobile division increased 13 percent while that of the motorcycle division rose 6.7 percent. BMW’s Financial Service, meanwhile, recorded 9.3 percent.

More importantly, the Munich-based firm broke a big psychological barrier by breaking the one-million mark in vehicles sold, delivering 1.057 million BMWs and Minis to customers around the world. This figure represents a substantial and highly impressive 17 percent increase in sales compared to BMW’s previous year. This growth outstrips the rest of the industry and even that of the more recession-resistant luxury segment.

In the Philippines, BMW has dominated the premium segment since it first came in officially, what with a barrage of delectable new models, segment-leading parts and after-sales service, and the highly successful BMW Financial Services that offers innovative credit solutions with its partner bank, Security Bank.

Its other major local announcement for 2002 was its P19.8-million, 1,643-square meter training center at Fort Bonifacio. With more than P7 million worth of testing and technical equipment, the facility will provide staff and dealership employees with a first-class facility to hone their skills. It should be operational by mid-2003.

BMW Philippines also introduced its Certified Pre-Owned Program, a scheme that offers prospective buyers an assurance that the pre-owned BMWs they are buying offer the same combination of reliability and superb driving experience they expect from a BMW. It even offers a 12-month factory warranty.

They also opened new dealerships in Pampanga and Cebu to complement the existing ones in Makati, Libis and EDSA, Greenhills. Not surprisingly, BMW Philippines cornered a dominant 57 percent of the local premium market segment, up from 47 percent the previous year – highly impressive considering that the segment grew only 12.8 percent over the previous year.

To top this off, BMW Philippines will be introducing its legendary motorcycle line here this April, replace with full after-sales service, riding gear and accessories. And with highly anticipated models like the new 5-series, the all-new Z4 Roadster and the reincarnated 6-series coupe, things can only get better for both the German firm and its legions of fans. — Manny de los Reyes