Wednesday, May 15, 2013
1980s cars disappearing from British roads faster than any others, reveals HonestJohn.co.uk
Austin Metro, Allegro and Ford Sierra on top of ‘endangered family cars' list
The 1980s may have enjoyed a fashion and pop revival but cars from that decade are some of the most endangered cars on British roads today. New research into the top British family cars by consumer motoring champion HonestJohn.co.uk reveals that many of UK's once-popular family cars are on the verge of disappearing completely.
The Austin Metro is typical. It was once a common sight on British roads and enjoyed celebrity status as Princess Diana's car when she married Charles in July 1981. It was also the driving school car of choice for BSM, and everyone knew someone who had one - and now, there's a mere 823 taxed or SORN'd Austin Metros, from an original production run of 1.5 million between 1981-1991.
The once-derided Austin Allegro has suffered the largest decline of all, with just 291 remaining in the UK (taxed and SORN) at the end of 2011, from a total production run of 640,000 between 1973 and 1982.
The Ford Cortina is another model on the list that may raise a few eyebrows - after all it was Britain's best-selling car between 1973 and 1980. Many people will know the Cortina, because once upon a time, it was the darling of a million sales reps - but it most recently had its moment of fame as the star of 2006-'07 TV drama, Life on Mars. Just 5,411 remain registered in the UK, from more than four million built. Other endangered former street furniture classics include the Ford Sierra and Rover SD1.
All the top 20 cars on the Most Endangered List have a survival rate of less than 1%. At the other end of the scale, some classic cars had impressive survival rates such as the Lotus Elan, which is the UK's most popular classic car with 38 per cent of its pre-1995 models (3,361) still surviving today with an astonishing 24% (2,151) still on the road.
Keith Adams, Editor of Honest John Classics, said: 'This list of endangered cars is fascinating - pretty much all of them littered the UK roads as recently as 10 years ago and now you'll be lucky to spot them at a classic car meeting. The low survival rate for these models is shocking. 1980s cars are particularly vulnerable - because their passage into popular classic status is yet to happen and their disappearance has been hastened by needless scrappage and artificially low market values in recent years.'
The ‘Top 20 Endangered Cars' research by Honestjohn.co.uk involved examining DVLA records of classic cars (those cars registered between 1950 and 1995) to find out how many were still registered today (both on the road and SORN) compared to the amount originally built. The results are published at classics.honestjohn.co.uk - a newly launched site that contains a wealth of research and information about classic cars.
Top 20 fastest disappearing family cars by model
1. Austin Allegro 0.05% remaining
2. Austin Montego 0.05% remaining
3. Austin Princess 0.05% remaining
4. Hillman Avenger 0.06% remaining
5. Vauxhall Viva 0.07% remaining
6. Morris Marina 0.08% remaining
7. Austin Maxi 0.08% remaining
8. Morris Ital 0.1% remaining
9. Rover SD1 0.1% remaining
10. Vauxhall VX-Series 0.1% remaining
11. Austin Metro 0.1% remaining
12. Ford Cortina 0.1% remaining
13. MG 1100|MG 1300 0.1% remaining
14. Austin Maestro 0.2% remaining
15. Vauxhall Chevette 0.2% remaining
16. Austin Ambassador 0.2% remaining
17. Hillman Imp 0.2% remaining
18. Rover 200 0.3% remaining
19. Triumph Acclaim 0.4% remaining
20. Ford Sierra 0.4% remaining
Top 10 classic survivors by model
1. Lotus Elan 38% remaining
2. Triumph Stag 25% remaining
3. Reliant Scimitar and SS1 21% remaining
4. Aston Martin V8 21% remaining
5. Lotus Europa 20% remaining
6. Aston Martin DB5 19% remaining
7. Aston Martin DB6 18% remaining
8. Daimler SP250 Dart 17% remaining
9. Aston Martin DBS 15% remaining
10. Triumph TRS 13% remaining
DATED: 15.05.13
FEED: HA
Toyota lowers Auris Hybrid CO2 emissions to class-leading 84g/km
- Auris Hybrid hatchback now available with CO2 emissions of 84g/km, the lowest of any car in the family hatchback class
- UK Auris sales increased by 31 per cent to March 2013
This reduction is achieved by refining the vehicle tuning and adopting various aerodynamic improvements such as new aero-stabilising fins in the rear glazing. These measures combine to improve the overall energy efficiency without negatively impacting vehicle performance.
Reinforcing Toyota's commitment to continually improve the efficiency of its products, these new modifications were first previewed on the 85g/km Auris Hybrid Touring Sports, which made its debut at the Geneva Motor Show in March this year.
Auris has been received well across Europe since launch, with sales up 27 per cent in the first quarter of 2013. The full hybrid variant is proving particularly popular with a sales increase of 69 per cent year-on-year. In the UK, sales of Auris have been even better, increasing by 31 per cent to March 2013.
Auris Hybrid will be available from June with emissions of 84 g/km on Icon models only. The emissions of Excel models will remain unchanged at 91g/km.
Auris Hybrid Icon
| ||
| CO2 EMISSIONS (g/km) | Hatchback |
Touring Sports
|
| Urban |
82
|
84
|
| Extra urban |
83
|
84
|
| Combined |
84
|
85
|
DATED: 15.05.13
FEED: HA
Morgan to host DVLA's three-day auction
DVLA Personalised Registrations will transform a corner of one of the world's most iconic car factories into an auction room, ensuring registered bidders will be able to enjoy a truly once in a lifetime automotive experience.
The Agency will move into Morgan's Malvern factory - home of the ever-present Morgan Motor Company since 1910 - later this month where it will stage its third three-day public auction of personalised registrations of 2013.
Registered bidders will have the opportunity to tour Morgan's historic factory and see for themselves just how the quintessentially British car, famed for its wooden frame, is hand built. Subject to availability, bidders will also be able to take to the roads and experience a test drive.
Jody Davies, DVLA Personalised Registrations' Events Manager, said: "We've listened to our customers who have said they want a new, unique, experience when attending our three-day sales.
"We received phenomenal feedback from those who attended our sale at Mercedes Benz World in Surrey last September and we have gone to great lengths to replicate it which is why we turned to Morgan."
She added: "Morgan have been terrific and couldn't do enough in embracing us. Those who register to bid will receive a factory tour and even the opportunity to take a test drive in one of their iconic cars."
To crown off the event, DVLA Personalised Registrations will be auctioning what has to be the perfect Morgan registration, in MO12 GAN. The registration, which has a reserve of £2,000, has been included in the sale along with numerous other Morgan-related registrations largely suggested by Morgan owners after a successful appeal to them earlier this year.
With a reserve of £5,000, 20 O is the highest priced registration in the 1,550-lot sale, though considerable interest is likely to surround FA12 MER, AL13 ERT and CO11 EGE, each with reserves of £1,000.
DVLA's forthcoming auction will consist of a total of 1,550 registrations, all chosen to offer a selection to suit all tastes, styles and budgets including; 4444 A (reserve - £3,000), AL13 ERT (£1,000), ART 111C (£400), 13 ARD(£1,800), BA11 AMS (£900), BA12 DEN (£900), BED 80Y (£450), B116 BEN (£400), B122 RDS (£250), CA12 MEN (£900), CAP 710N (£300), CO11 EGE (£1,000), DAR 10G (£400), DEF 10E (£400) ELV 15T (£400), FA12 MER (£1,000),HE11 ENE (£1,000), HO11 MES (£2,000), H412 OON (£300), LAW 800K (£400), LOW 70W (£400), MA12 GOT(£900), MO12 GAN (£2,000), 20 O (£5,000), OS13 ORN (£1,200), PA12 SON (£900), PO11 OCK (£1,000), P4 NTY(£400), ROW 804T (£300), 430 SCU (£1,700), TUL 155A (£350), T4 RTY (£350), T911 POR (£400), WA12 DEN(£900), W005 TER (£900), W111 KYS (£400), Y511 DHU (£350).
DATED: 15.05.13
FEED: HA
Bentley to bring its style inside
- New partnership announced with Club House Italia
- Development begins on ‘Bentley Home Collection'
- Fine furnishings for home, executive and office interiors
(Crewe, 14th May 2013). Bentley is delighted to announce a partnership with Club House Italia for the development of its new Bentley Home Collection. This exclusive collection of furniture and homeware will combine the finest quality craftsmanship with exquisite modern design and the luxury finishes which underlie Bentley's renowned global brand.
The state-of-the-art collection will combine traditional elements in contemporary contexts to enhance today's residential, commercial and executive office interiors.
Stefan Buescher, Director of Product and Marketing, Bentley Motors, said: For more than 90 years Bentley has produced the world's finest hand-crafted car interiors - now we are making our approach to luxury available to people's homes and offices."
Club House Italia - which furnishes the finest homes, boardrooms, apartments, hotels, yachts and private jets - will reflect Bentley's elegant, prestigious and recognisable style in the creation of a range of furniture that combines the highest attention to detail with the finest aesthetic sensibility.
The essence of Club House Italia is expressing the style of desire, giving a shape to luxury through a contemporary art made up of talent, sensitivity and expertise. Combined with Bentley's legendary style and exquisite craftsmanship, the partnership will offer rare examples of elegance and fine finishes, using the world's most beautiful materials to bring out unique elements of character and craftsmanship.
Alberto Vignatelli, the chairman and CEO of Club House Italia, commented: "The collaboration with Bentley will be the perfect union between home collection know-how, high style and fine attention to detail.
"It will guarantee the creation of a haute couture home collection made for a sophisticated and exclusive lifestyle which will appeal to discerning customers who value modern luxury and exquisite craftsmanship."
The new Bentley Home collection will combine the traditional elan of the British driver's spirit with a new modern English twist, an approach so superbly articulated in the Bentley suite at the St Regis hotel, New York. There, the combination of traditional and modern reaches a new dimension in the use of leather, precious wood veneers, steel, wool, silk and glass throughout the suite, and the distinctive quality of each object mirrors that of a Bentley model's performance and luxury core elements.
Lindsay Weaver, director of licensing and branded goods, Bentley motors, commented: "We're delighted to be partnering with Club House Italia on this exciting new approach to luxury. Both brands have a strong belief in design and share an unrivalled attention to detail - our products will be exquisite."
The recent Milan Furniture fair provided the backdrop for a special preview of a small selection of items leading to the full collection launch at the Maison et Object International show in Paris, January 2014.
DATED: 15.05.13
FEED: HA
UK automotive partners with The Foyer Federation to boost employability of young people
During the course of the next few months, young people with a range of backgrounds and experience will have the opportunity to get a taste of life in the UK automotive industry, as part of a 'Working Assets' scheme supported by SMMT and The Foyer Federation.
The established ‘Working Assets' programme has been developed by The Foyer Federation and seeks to develop the skills of young people to enable them to be employable and, ultimately, independent adults. SMMT, through its Charitable Trust, has partnered with The Foyer Federation to deliver an automotive-specific programme targeted at careers in the UK motor industry. This is the first time the scheme has focused on an individual sector of this scale.
Building on the success of a pilot programme that ran last year, SMMT members BMW Group UK, Ford Motor Company, Toyota Motor Manufacturing (UK) and Unipart Group have each signed up to support this year's initiative, partnering with their local Foyers to undertake bespoke projects and activities. These will include skills workshops, training schemes and plant visits as well as hands-on activity such as problem-solving exercises, team-building projects, practical work experience and involvement with local sustainability initiatives.
Commenting on the programme, SMMT Interim Chief Executive, Mike Baunton said, "Following last year's highly successful pilot, we are both delighted and honoured to be working with The Foyer Federation again to deliver an effective programme that will develop the skills of young people and showcase careers in automotive.
"Our industry offers a fantastic range of job opportunities for all young people, irrespective of where they come from or what they have experienced. It's terrific to see the range of automotive companies committed to this project, pioneering activities that will enable young people to access new opportunities, broaden their interests and experience our vibrant sector first-hand."
Jane Slowey, Chief Executive of The Foyer Federation added, "A decent job with prospects is probably the most critical factor in enabling young people to move to sustainable, independent adulthood. That is why it is vital to create a new conversation between employers and those young people who face challenges as they grow up.
The Foyer Federation is thrilled to be working with SMMT and its members for a second year to build bridges for young people into a sector that is so important to the country's growth and prosperity. SMMT and the automotive partners involved join a growing list of employers and housing associations who want to invest in young people's assets and support their positive transition to adulthood."
During last year's pilot scheme, 30 young people from Foyers across the UK took part in activities and projects led by Ford Motor Company, Toyota Motor Manufacturing (UK) and Unipart Group. 73% of participants have since gone on to employment, education or training. To find out more about the young people that took part in last year's pilot and where they are now, read the case studies attached or click here to watch a short video and hear about their experiences.
Follow the progress of this year's programme on Twitter at @SMMT and @Foyerfederation or online atwww.foyer.net.
Aaron Taylor's story - 2012 SMMT and The Foyer Federation Working Assets 'pilot'
More deed, less waste
"I got involved in the SMMT Working Assets programme because at the time I had nothing going on day-to-day and because I wanted to commit to something. Mayday Trust introduced me to the opportunity and we started out on a six-week programme with Unipart Group.
"We were working with the manufacturing team and were given the task to eliminate different types of waste. It was an environment we didn't know, so we had to learn and understand how people work in the factory. I learnt a lot about the manufacturing environment and the commitment the staff give every day, which inspired me to continue with it.
"I enjoyed getting to know the Unipart staff and the people we were working with and this helped me improve my communication skills. Doing something valuable with my time and picking up skills like problem solving also improved my commitment. I learned about things like waste identifying techniques, and MIFA (material, information, flow, analysis).
"After finishing the six weeks successfully, I then joined a formal six-week work placement at Unipart, which I also enjoyed. Following my work placement, I went to SMMT's office in London for a recognition event, where I was awarded my certificate and met other young people taking part in the pilot programme.
"I found Unipart a really warm, welcoming environment to work in. Although I discovered that car manufacturing isn't my area of interest, I am so glad I participated and I'm now on a volunteer programme with an organisation called Chance 4 Change."
During last year's pilot, young people from Mayday Trust worked on a team project designed by Unipart. As a result, the group saved the company £17,000 by redesigning a trolley used in the factory.
Lloyd Burt's Story - 2012 SMMT and The Foyer Federation Working Assets 'pilot'
"We had 11 young people from Derby Foyer take part in the project with Toyota. The group started out quite hesitantly but as the weeks went on it really grew on them. The Working Assets model means learning can take place in a new environment, which is a big part of why it has been a success.
"In the Foyer we set up a 'Work in Progress Wall' so that the young people could see what they had achieved. They gradually came to take responsibility for themselves, particularly in their behaviour. Working with professionals at Toyota taught them that they had to act in a certain way. A few of the group have behavioural issues so it was hard for them at first, but as it went on their behaviour and confidence got better and better.
"One of our young people, Nathan, isn't used to sitting in a classroom and speaking in front of other people, but if you meet him now you wouldn't know it. For him to see Toyota professionals looking at him positively, and not as a young person who can't do things, gave him confidence.
"Nathan has Asperger's and suffers from depression too, so going to London and being on crowded tubes was a big deal for him and he managed this easily after he completed the project. Although his condition remains, Nathan's overall management of the condition has improved as well as his general health and wellbeing. Nathan went on to present at a Learning Forum at the end of the programme, where he spoke to the group on his experiences of the project. The recognition the young people got was massive and being able to prove to themselves that they are capable of working within an industry was a really big deal for them too.
"Before the group started on Working Assets, some wouldn't even talk to each other, even though they had been living together for more than a year. Working with Toyota showed them that as a staff group they were a team and had to work together. This improved the situation in the Foyer and as time went on they began to really get together and communicate with each other. Most of them are friends now.
"The relationship between our Foyer and Toyota was excellent. They understood the complex needs of our young people and catered for it. They've even done a great job campaigning for us during budget cuts and trying to keep the young people in their current accommodation. This partnership opened my eyes to corporate social responsibility and Toyota's commitment to the local community. To see the amount of organisations they work with, and people they help, I didn't believe corporate institutions were actually like that.
"I personally feel proud to have been part of the Working Assets programme and see all 11 young people get their NVQs and move into training or employment. Professionally, it's also pushed my abilities and shown me what I am capable of.
"I've developed my own assets too, and I now have a better understanding of project management, liaising between agencies, budget management, etc. Since the project, I've gone on to do an NVQ level 3 in Children and Young People in the Workforce. I'm not sure I would have done it if I hadn't been on this project. I completed the course in five months rather than a year because the service is closing down and the Working Assets project helped me add lots of examples.
"With the situation of our Foyer being decommissioned I'm really pleased the project can continue with another agency or Foyer. The benefits are amazing. To see the difference in young people makes you feel that you have truly achieved something."
Lloyd Burt was a support worker at the Derby Foyer and played an active role in facilitating the project with staff from Toyota.
Notes to Editors:
Foyer location
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Automotive company
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Foyer Service
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Basildon
|
Ford Motor Company
|
Dove Cott House, Swan House Foyer
|
Stoke-on-Trent
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Toyota Motor Manufacturing UK
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Stoke-on-Trent and North Staffordshire YMCA Foyer
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Coventry
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Unipart Group
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May Day Trust, services in Rugby and Leamington
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Swindon
|
BMW Group Plant Swindon
|
Swindon Foyer
|
About SMMT and UK the automotive industry:
The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations in the UK. It supports the interests of the UK automotive industry at home and abroad, promoting a united position to government, stakeholders and the media.
The automotive industry is a vital part of the UK economy accounting for £55 billion turnover and £12 billion value added. With more than 700,000 jobs dependent on the industry, it accounts for 10% of total UK exportsand invests £1.3 billion each year in automotive R&D. Since 2000, huge strides have been made to reduce the environmental impact of its products throughout the life cycle. Improvements in manufacturing processes mean that in the last decade, energy used to produce each vehicle is down 43%, water use has been cut by 48% and 83%less waste enters landfill sites. Average new car tailpipe CO2 emissions have also been slashed and are down 23% versus 10 years ago to 133g/km CO2. For more details, see SMMT's Sustainability Report 2012 and Motor Industry Facts 2013 at www.smmt.co.uk/publications. Note to broadcasters: SMMT has an on-site ISDN studio.
About The Foyer Federation and 'Working Assets':
The Foyer Federation is a not-for-profit organisation that helps to transform the circumstances and open the talents of young people who have faced barriers in their lives. Since 1992, it has worked with young people to create new approaches developing the skills and resources they need to thrive. Its mission is to turn young people's experiences of disadvantage into solutions that support their transition to adult independence by developing transformational programmes, such as ‘Working Assets' that fill gaps in community services and give young people necessary life skills.
Its ground breaking campaigns and initiatives are led through a network of 120 accredited learning and accommodation centres known as ‘Foyers'. These Foyers provide up to 10,000 16-25-year-olds per year with mutually agreed, tailor-made programmes which give the young people access to housing, learning, personal development, training and employment opportunities.
Further information about the Foyer Federation is available at www.foyer.net or by calling 020 7430 2212.
DATED: 15.05.13
FEED: HA
First Infiniti Q50 rolls off the Tochigi production line: signals bold new direction for model line-up
- Official Q50 Off-line ceremony presided over by Carlos Ghosn, President and CEO of Nissan Motor Co. Ltd., and Johan de Nysschen, President of Infiniti Motor Company Ltd.
- Q50 sets new benchmarks in the premium automotive sector
- Sebastian Vettel, three-time world champion and Infiniti's Director of Performance, pays tribute to the Tochigi production team
TOCHIGI, Japan (14 May 2013) - The first production model of the Infiniti Q50, the all-new premium sports saloon, rolled off the assembly line at the Tochigi production plant today.
The official off-line ceremony was presided over by Carlos Ghosn, President and CEO of Nissan Motor Co. Ltd., and Johan de Nysschen, President of Infiniti Motor Company Ltd.
The Q50 is the first in the new generation of Infiniti vehicles. It sets fresh benchmarks in the areas of emotive styling, advanced technology and performance.
Premiered at the North American International Auto Show in Detroit in January, the Q50 is at the heart of Infiniti's bold new model line-up.
Ghosn paid tribute to the production team at Tochigi and underlined their reputation for industry-leading manufacturing expertise.
"Thanks to the skill and constant focus on performance improvement, Tochigi has a global reputation for producing top-quality vehicles. Year after year, Tochigi sets the benchmark for manufacturing quality standards," he said.
"With the Q50, once again the Tochigi team has showcased their skill and expertise and proven the power of Japanese monozukuri."
De Nysschen added that the Q50 was the opening salvo in Infiniti's new product portfolio under the "Q" naming structure which was launched in December last year.
"The first Infiniti in our new line-up had to reflect the brand's core values of seductive design, passionate attention to detail, precision in fit and finish, exhilarating performance and a provocative challenge to the status quo. The Q50 certainly does that," he said.
"This is the first step in the launch of our exciting global expansion plan."
Three-time Formula One World Champion, Sebastian Vettel, played an active role in the testing and evaluation programme of the Q50 in his capacity of Infiniti's Director of Performance.
"The first Q50 is coming off the line today so congratulations. I am glad I was involved in the development of the Q50 and I wish you a very good ‘birthday' and success for the future," he said in a congratulatory video message to the production team at Tochigi.
Vettel will assist in shaping the performance dynamics of Infiniti's future model line-up.
The all-new Infiniti Q50, which will go on sale in the summer, is available with a technologically advanced V6 3.5-litre petrol-electric hybrid and 2.2-litre 4 cylinder diesel engine.
Striking design, a raft of breakthrough technologies such as Direct Adaptive Steering, and unprecedented levels of craftsmanship and performance are the distinctive qualities of the Q50.
Striking design, a raft of breakthrough technologies such as Direct Adaptive Steering, and unprecedented levels of craftsmanship and performance are the distinctive qualities of the Q50.
DATED: 15.05.13
FEED: HA
BMW Group sets course for a successful future
- Further investment in new technologies and markets
- BMW Group reaffirms targets for full year 2013
Note: This press release is a 1:1 copy of the original issued by BMW headquarters in Germany. No adaptations have been made to cater for the UK market.
Munich. The BMW Group is paving the way for continued success in the future with a high level of expenditure on new technologies and models and investments in its production network. "In this way, we are preparing for the company's next phase of growth and making the BMW Group more competitive for the future. Anyone who wishes to shape the mobility of tomorrow must make the necessary investments today," said Chairman of the Board of Management of BMW AG, Norbert Reithofer, at the Annual General Meeting on Tuesday in Munich.
The BMW Group will continue to invest in existing and new locations: for example, in the new site planned in Brazil, which will produce up to 30,000 vehicles per year. The start of production is slated for 2014, with investments in Brazil of more than 200 million euros over the coming years. Last year the BMW Group production network comprised a total of 29 locations in 14 countries.
Development costs for new technologies and vehicle concepts will also continue to rise in 2013, with eleven new BMW Group models scheduled for launch in 2013 alone. By the end of 2014, some 25 new models will have been added to the range, ten of them totally new models.
With a view to global sales development, the company will continue its strategy of avoiding over-reliance on a single market or region: "We aim to maintain a good balance of sales between the three major regions of the world: Europe, the Americas and Asia," emphasised Reithofer. Last year, the US accounted for 18.9% of total sales, China 17.7% and Germany 15.6%.
Spotlight on e-mobility for the BMW Group in 2013
Electro-mobility will be very much in the spotlight for the BMW Group this year. The BMW i3, which is designed for zero-emission driving in the urban environment and will come onto the market by the end of the year, underscores the BMW Group's role as a leading innovator in the premium segment.
"Later this year, we will start the revolution in our industry - and BMW i will give the mobility of tomorrow a face. The future belongs to those who dare to venture. We cannot ignore the need for new approaches - especially when circumstances are changing," Reithofer underlined at the Annual General Meeting. "Customers are waiting for attractive options - options which we can deliver," Reithofer added.
The BMW i3 features a passenger compartment made of carbon-fibre-reinforced plastic (CFRP) and an aluminium chassis, and sets new standards in the field of lightweight construction. As a result, the BMW i3 will be 250 to 350 kilogrammes lighter than a conventional electric car.
BMW Group reaffirms targets for full year 2013
After a record-breaking 2012, the BMW Group reaffirmed its ambitious targets for the full year amid a persistently difficult and volatile economic environment. "We are aiming for a new sales volume record at Group level and a Group profit before tax for 2013 on a similar scale to 2012," confirmed Reithofer.
Despite the additional costs referred to, the Automotive segment continues to forecast an EBIT margin of between 8% and 10% for the current year. This range is also seen as a sustainable EBIT margin beyond 2013. However, depending on political and economic developments, actual margins could end up being above or below the targeted range.
The Motorcycles segment forecasts further sales volume growth in the current year thanks to attractive new models such as the R 1200 GS, which should, in turn, bring about a further rise in segment revenues and earnings.
The Financial Services segment is also expected to produce another strong performance and remains committed to achieving a return on equity of at least 18%.
Forecasts for the current year are based on the assumption that economic and political conditions worldwide will not change significantly.
Successful start in the first quarter of 2013
The BMW Group made a successful start to the new financial year. In the first quarter of 2013, Group revenues totalled €17,546 million (2012: €18,293 million; -4.1%). Despite higher expenditure on new technologies, increased personnel expenses and challenging market conditions worldwide, the profit before financial result (EBIT) for the three-month period totalled €2,039 million (2012: €2,134 million; -4.5%), the second-highest result ever achieved by the Group in a first quarter. The EBIT margin for the Group was 11.6%.
Profit before tax (EBT) for the period from January to March amounted to €2,003 million (2012: €2,080 million; -3.7%). Group net profit came in at €1,312 million (2012: €1,352 million; -3.0%). The total number of BMW, MINI and Rolls-Royce brand vehicles delivered to customers worldwide in the first three months of 2013 rose by 5.3% to 448,200 units (2012: 425,528 units).
2012 best year in the company's history
The 2012 financial year was the most successful year in the BMW Group's corporate history, with new records achieved for sales volume, revenues, and Group earnings.
Revenues increased year-on-year by 11.7% to reach a new high of €76,848 million (2011: €68,821 million). Despite higher expenditure on new technologies and increased personnel costs, earnings also climbed to new record levels, with profit before financial result (EBIT) up by 3.5% to €8,300 million (2011: €8,018 million), profit before tax (EBT) up by 5.9% to €7,819 million (2011: €7,383 million) and Group net profit up by 4.4% to €5,122 million (2011: €4,907 million).
The total number of BMW, MINI and Rolls-Royce brand vehicles delivered to customers worldwide in 2012 rose by 10.6% to a new high of 1,845,186 units (2011: 1,668,982 units), thus enabling the BMW Group to maintain its position as the world's leading premium car company.
Capital expenditure rose sharply (+41.9%) from €3,692 million in 2011 to €5,240 million in 2012 due to the number of new models, increased production capacities at various sites and, in particular, preparation for the launch of the BMW i. The capital expenditure ratio increased to 6.8% (2011: 5.4%). Research and development expenditure went up by 17.2% to €3,952 million (2011: €3,373 million), mostly on projects aimed at securing the Group's future, resulting in an R&D ratio of 5.1% (2011: 4.9%).
Dividend to increase to €2.50 per share of common stock
The Board of Management and the Supervisory Board will propose to shareholders at the Annual General Meeting on 14 May 2013 that the dividend be increased to a new high level of €2.50 (2011: €2.30) per share of common stock and €2.52 (2011: €2.32) per share of preferred stock. Based on these figures, the total distribution will rise to €1,640 million (2011: €1,508 million), corresponding to a distribution ratio of 32.0% (2011: 30.7%).
Permanent employees also share in the success of the company. They will receive a profit-related bonus that is one of the highest in the automotive and industrial sector in Germany.
Automotive segment: EBIT rises to €7.62 billion
The BMW, MINI, and Rolls-Royce brands all posted new sales volume records in 2012. Automotive segment revenues climbed 11.0% to €70,208 million (2011: €63,229 million), thanks to the sharp rise in the number of vehicles sold. The segment EBIT rose to €7,624 million (2011: €7,477 million/+2.0%), resulting in an EBIT margin of 10.9%. Profit before tax amounted to €7,195 million (2011: €6,823 million/+5.5%).
Free cash flow for the Automotive segment totalled €3,809 million, an improvement of €643 million on the previous year and well above the target of over €3 billion set for the full year.
Sales of BMW brand cars increased by 11.6% to 1,540,085 units (2011: 1,380,384 units), thus exceeding the 1.5-million-unit mark for the first time in a single financial year. The MINI brand passed the sales volume threshold of 300,000 units for the first time in a 12-month reporting period, with sales volumes up by 5.8% to 301,526 units (2011: 285,060 units). Rolls-Royce was the clear market leader in the ultra-luxury segment in 2012. In total, 3,575 units were sold during the year (2011: 3,538 units/+1.0%).
Motorcycles segment also achieves sales volume record
117,109 BMW and Husqvarna brand motorcycles were sold worldwide during the past year (2011: 113,572 units; +3.1%), a new sales volume record for the segment.
Sales of BMW brand motorcycles went up by 2.0% to 106,358 units (2011: 104,286 units), while Husqvarna handed over 10,751 motorcycles to customers (2011: 9,286/+15.8%). In future, the Motorcycles segment intends to focus exclusively on the BMW brand. At the end of January 2013, the BMW Group signed a contract for the sale of Husqvarna with the Austrian company, Pierer Industrie AG.
Segment revenues were 3.8% higher at €1,490 million (2011: €1,436 million). EBIT fell to €9 million (2011: €45 million/-80.0%) as a result of the realignment of the BMW Group's motorcycles business. Profit before tax decreased accordingly to €6 million (2011: €41 million/-85.4%).
Financial Services segment remains on growth course
The Financial Services segment continued to perform well in the past year. Revenues went up by 11.7% to €19,550 million (2011: €17,510 million). Profit before tax came in at €1,561 million (2011: €1,790 million/-12.8%), whereby the decrease in segment earnings was primarily a reflection of the previous year's extremely high figures. In 2011, the segment recorded exceptional income of €439 million resulting from the reduction in provisions for residual value and bad debt risks. Business with end-of-contract leasing vehicles gave rise to an exceptional gain of €124 million in 2012.
The number of new lease and credit financing contracts signed worldwide (1,341,296) was 12.1% up on the previous year. The number of lease and financing contracts in place with dealers and retail customers at the end of the year rose by 7.1% to a total of 3,846,364 contracts.
Workforce up by 5.6%
The BMW Group's workforce increased during the period to 31 December 2012, growing by 5.6% over the year to 105,876 employees (2011: 100,306 employees) worldwide. The BMW Group needs engineers and skilled workers, in order to keep pace with the continued strong demand for the BMW Group's cars, forge ahead with innovations, and develop new technologies.
1,376 young people - 1,200 of them in Germany - started their vocational training with the BMW Group at the beginning of the new training year. The number of trainees in Germany therefore increased by more than 10%. At the end of 2012, the BMW Group employed a total of 4,266 apprentices worldwide.
***
The BMW Group's current Sustainable Value Report is available at
2012
|
2011*
|
Change in %
| |
| Deliveries to customers | |||
| Automotive |
1,845,186
|
1,668,982
|
10.6
|
Thereof:
BMW units
|
1,540,085
|
1,380,384
|
11.6
|
MINI units
|
301,526
|
285,060
|
5.8
|
Rolls-Royce units
|
3,575
|
3,538
|
1.0
|
Motorcycles units
|
117,109
|
113,572
|
3.1
|
BMW units
|
106,358
|
104,286
|
2.0
|
Husqvarna units
|
10,751
|
9,286
|
15.8
|
Workforce1
|
105,876
|
100,306
|
5.6
|
Revenues € million
|
76,848
|
68,821
|
11.7
|
Thereof:
Automotive € million
|
70,208
|
63,229
|
11.0
|
Motorcycles € million
|
1,490
|
1,436
|
3.8
|
Financial Services € million
|
19,550
|
17,510
|
11.7
|
Other entities € million
|
5
|
5
|
-
|
Eliminations € million
|
-14,405
|
-13,359
|
-
|
Capital expenditure € million
|
5,240
|
3,692
|
41.9
|
Operating cash flow € million
|
9,167
|
8,110
|
13.0
|
Profit before financial result € million
|
8,300
|
8,018
|
3.5
|
Thereof:
Automotive € million
|
7,624
|
7,477
|
2.0
|
Motorcycles € million
|
9
|
45
|
-80.0
|
Financial Services € million
|
1,558
|
1,763
|
-11.6
|
Other entities € million
|
58
|
-19
|
-
|
Eliminations € million
|
-949
|
-1,248
|
--
|
Profit before tax € million
|
7,819
|
7,383
|
5.9
|
Thereof:
Automotive € million
|
7,195
|
6,823
|
5.5
|
Motorcycles € million
|
6
|
41
|
-85.4
|
Financial Services € million
|
1,561
|
1,790
|
-12.8
|
Other entities € million
|
-6
|
-168
|
-
|
| Eliminations € million |
-937
|
-1,103
|
-
|
| Income taxes € million |
-2,697
|
-2,476
|
8.9
|
Net profit € million
|
5,122
|
4,907
|
4.4
|
Earnings per share2 €
|
7.77/7.79
|
7.45/7.47
|
4.3
|
Dividend per share of
common/preferred stock € |
2.50/2.52
|
2.30/2.32
|
-
|
* Figures for 2011 partially adjusted
*The result for the financial year 2011 includes exceptional income of €524 million in the Automotive and Financial Services segments, reflecting the reduction in risk provision for residual value and bad debt risks. Business with end-of-contract leasing vehicles gave rise to an exceptional gain of €124 million in the Financial Services segment in 2012
1 Figures exclude dormant employment contracts, employees in the work and non-work phases of pre-retirement part-time working arrangements and low wage earners
2 Earnings per share of common stock/preferred stock
| |||
For questions please contact:
Corporate Communications
Mathias Schmidt, Business, Finance and Sustainability Communications
Telephone: + 49 89 382-24118, Fax: 49 89382-24418
mathias.m.schmidt@bmw.de
Telephone: + 49 89 382-24118, Fax: 49 89382-24418
mathias.m.schmidt@bmw.de
Alexander Bilgeri, Head of Business, Finance and Sustainability Communications
Telephone: +49 89 382-24544, Fax: +49 89382-24418
alexander.bilgeri@bmw.de
Telephone: +49 89 382-24544, Fax: +49 89382-24418
alexander.bilgeri@bmw.de
Internet: www.press.bmwgroup.com
E-mail: presse@bmw.de
The BMW Group
The BMW Group is the leading premium manufacturer of automobiles and motorcycles in the world with its BMW, MINI and Rolls-Royce brands. As a global company, the BMW Group operates 28 production and assembly facilities in 13 countries and has a global sales network in more than 140 countries.
In 2012, the BMW Group sold about 1.85 million cars and more than 117,000 motorcycles worldwide. The profit before tax for the financial year 2012 was euro 7.82 billion on revenues amounting to euro 76.85 billion. At 31 December 2012, the BMW Group had a workforce of 105,876 employees.
The success of the BMW Group has always been built on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy. As a result of its efforts, the BMW Group has been ranked industry leader in the Dow Jones Sustainability Indexes for the last eight years.
DATED: 15.05.13
FEED: HA
BIBA appoints DAS for loss recovery insurance scheme
BIBA has appointed the DAS UK Group as scheme provider for its loss recovery scheme.
With effect from May 2013, BIBA members will now be offered DAS Loss Assist.
DAS Loss Assist Business covers the immediate appointment, 24/7 of a loss adjuster and other professionals including access to chartered accountants, surveyors or other claims professionals where required, in the event of a large commercial loss.
Andy Tomkins, DAS UK Group commented: "BIBA has a reputation for providing the highest quality insurance schemes, and we are extremely pleased that DAS has been chosen as the new provider with Loss Assist for its loss recovery scheme"
Mike Hallam, BIBA's Manager, Technical Services said "Loss recovery insurance has become increasingly popular as both brokers and their clients become increasingly aware that a significant event, such as a fire or flood, is potentially catastrophic for a business as the speed with which one can restart one's business is equally as important as the pay-out for the loss itself. Should the worst happen, specialist claims support is available to get a business back up and running as quickly as possible."
BIBA would like to thank the previous scheme provider, Lorega, for their on-going and long term future support and to wish them well as they continue to offer their suite of Loss Recovery Insurance products to the market.
DATED: 15.05.13
FEED: HA
Chipping away at profits
Venson calls for change in the ‘replace over repair' culture for fleet windscreens.
Venson Automotive Solutions, a leading independent fleet management specialist, is warning that fleets are incurring unnecessary costs by replacing windscreens instead of repairing them. The cost of repair is on average less than 15% of the replacement cost, yet many companies still choose replacement as the automatic option. Venson is calling for a rethink in the way businesses deal with damage to windscreens to save fleet managers thousands of pounds.
Venson statistics show that on average 32% of the vehicles it covers have their windscreen repaired when damaged - a figure that is well above the industry average. However, many fleet operators are still opting for the far more expensive option of simply having them replaced - which can cost more than 5 times the price of repair.
Carl Stephens, Commercial Director of Venson Automotive Solutions, explains: "The windscreen is one of the most vulnerable areas on a vehicle to be damaged, so with the extended cold period we have experienced this year, together with the increasing danger of potholes, small chips and cracks have become worse almost instantly. Not surprisingly, windscreen damage has been at a record high."
Venson has operated a ‘Repair First' policy over the 11,000 Light Commercial Vehicles and cars covered by its fleet and accident management services. This approach saved its clients over £18,000 in 2012.
Stephens concludes, "As part of our Customer First approach, we are fully committed to identifying areas in which Clients can save and improve efficiency. Whilst we recognise that the majority of Fleet Managers understand the benefits of repairing over replacement of a windscreen, we would urge that this message is conveyed - with the help of a fleet management specialist - to drivers.
"Our fantastic record of reducing the financial impact of windscreen damage comes as a result of one thing - education. We ensure that our client management teams, fleet managers and ultimately, the drivers know how to spot stone chip damage early and book a repair. Not all cracks mean a windscreen needs replacing. The message is simple when it comes to windscreens - think repair first, not replace."
DATED: 15.05.13
FEED: HA
