For two years, BMW was the German automaker that seemed to have figured it out.
While Volkswagen was announcing 35,000 job cuts and Mercedes-Benz was launching its own redundancy program, BMW kept its head down and its numbers relatively clean.
It held onto combustion engine options when rivals were abandoning them. It avoided the kind of expensive strategy reversals that cost peers billions. Its electric sales were growing without the margin collapse that hit everyone else.
On July 29, CEO Milan Nedeljkovic and works council chairman Martin Kimmich stood in front of employees at a company-wide **** embly and delivered news that ended that narrative.
"The rules dictating the industry have substantially changed, and with it the foundation of BMW's business model," Nedeljkovic told staff.
#nedeljkovic #volkswagen #mercedes #Milan
While Volkswagen was announcing 35,000 job cuts and Mercedes-Benz was launching its own redundancy program, BMW kept its head down and its numbers relatively clean.
It held onto combustion engine options when rivals were abandoning them. It avoided the kind of expensive strategy reversals that cost peers billions. Its electric sales were growing without the margin collapse that hit everyone else.
On July 29, CEO Milan Nedeljkovic and works council chairman Martin Kimmich stood in front of employees at a company-wide **** embly and delivered news that ended that narrative.
"The rules dictating the industry have substantially changed, and with it the foundation of BMW's business model," Nedeljkovic told staff.
#nedeljkovic #volkswagen #mercedes #Milan
2 months ago
