The document provides information on the global automobile industry from 2000-2014. It summarizes key statistics such as worldwide automobile production forecast for 2017, the leading automobile producing countries and their shares of total production, the top automobile manufacturers by units sold in 2014, and the revenue of the top manufacturers. It also lists some of the most valuable brands in the automotive industry according to Forbes in 2015 and provides an overview of BMW Group including its financial performance from 2010-2014 and shareholder structure.
The document analyzes the financial performance of BMW Group and compares some metrics to Fiat. It discusses BMW's ownership structure which includes a two-tier board system. It also calculates BMW's free cash flow for 2012 and compares indexes like current ratio, quick ratio, and debt ratio between the two companies. Overall, the analysis found that BMW generally performed better financially than Fiat based on higher profit margins, returns and lower debt levels, though some metrics were lower than industry averages.
The document provides an analysis of BMW's market position. It discusses BMW's history, current operations with over 1 million cars sold annually across various brands and regions. A PEST analysis finds rivalry among competitors to be high, threat of new entrants low, bargaining power of suppliers and buyers to be medium and high, and threat of substitutes to be medium. Key competitors like Mercedes, Audi, Porsche, and Lexus are analyzed. BMW's strategy is to be the leading provider of premium products and services. A SWOT analysis finds strengths in branding and innovation and weaknesses in Asian market performance. Opportunities exist in hybrid vehicles and growth markets while threats include competition and regulations. Recommendations include expanding in growth markets
Bayerische Motoren Werke (BMW) Investment PitchHwaiKian Tan
Investment pitch to UCL student-led investment society on 21/02/2017 at €86.53 with 20.6% upside at assumption and projection of 0% revenue growth. Investment horizon is 1 year and exit at €102.70. Feel free to contact anyone of us if you have a feedback:
Associate: Mykyta Shchukin
Analysts: Qu Ming Yuan, Mascha Samkova, HwaiKian Tan
This document provides an overview of BMW's global marketing strategies. It discusses BMW's history, pricing strategies that take purchasing power and status symbols into account across countries. It also analyzes BMW's distribution channels, promotion strategies including advertising and public relations, and how BMW addresses some legal and social issues in different parts of the world. BMW employs niche marketing and consistency in promoting their brand globally as the "ultimate driving machine".
Germany has the largest economy in Europe and the fourth largest GDP in the world. It has a GDP of $3.915 trillion and GDP per capita of $48,228. Germany is a major exporter, recording the highest trade surplus at $285 billion and being the third largest exporter globally. The country has a dense transportation network and is an important transportation hub in Europe due to its central location. The automotive industry is a major part of the German economy, accounting for 17% of exports. Germany produces over 29% of all passenger vehicles in Europe and 60 million cars annually, though it faces challenges from increasing competition.
The BMW strategic plan from 2015-2035 aims to position BMW as a leader in the luxury autonomous car industry, especially in China. BMW plans to sell between 3-6.7 million cars globally by 2035, with 800k-1.8 million in China. This will be achieved through strategic partnerships, an agile corporate culture, and focusing on innovation, collaboration and automation. BMW will monitor trends and regulations closely and remain flexible to changing conditions over the 20 year period.
BMW implements comprehensive risk management to identify and address threats to achieving corporate targets. Risks are evaluated based on impact and likelihood, and are categorized as high, medium, or low based on potential financial impact. Key risks include political and economic volatility, strategic risks, operational risks including purchasing and production, and financial risks such as foreign exchange and raw material costs. BMW addresses purchasing risk through supplier selection processes, monitoring suppliers, and identifying alternative materials. Risk management is coordinated across the company and regularly audited to ensure effective identification and mitigation of threats.
The document analyzes the financial performance of BMW Group and compares some metrics to Fiat. It discusses BMW's ownership structure which includes a two-tier board system. It also calculates BMW's free cash flow for 2012 and compares indexes like current ratio, quick ratio, and debt ratio between the two companies. Overall, the analysis found that BMW generally performed better financially than Fiat based on higher profit margins, returns and lower debt levels, though some metrics were lower than industry averages.
The document provides an analysis of BMW's market position. It discusses BMW's history, current operations with over 1 million cars sold annually across various brands and regions. A PEST analysis finds rivalry among competitors to be high, threat of new entrants low, bargaining power of suppliers and buyers to be medium and high, and threat of substitutes to be medium. Key competitors like Mercedes, Audi, Porsche, and Lexus are analyzed. BMW's strategy is to be the leading provider of premium products and services. A SWOT analysis finds strengths in branding and innovation and weaknesses in Asian market performance. Opportunities exist in hybrid vehicles and growth markets while threats include competition and regulations. Recommendations include expanding in growth markets
Bayerische Motoren Werke (BMW) Investment PitchHwaiKian Tan
Investment pitch to UCL student-led investment society on 21/02/2017 at €86.53 with 20.6% upside at assumption and projection of 0% revenue growth. Investment horizon is 1 year and exit at €102.70. Feel free to contact anyone of us if you have a feedback:
Associate: Mykyta Shchukin
Analysts: Qu Ming Yuan, Mascha Samkova, HwaiKian Tan
This document provides an overview of BMW's global marketing strategies. It discusses BMW's history, pricing strategies that take purchasing power and status symbols into account across countries. It also analyzes BMW's distribution channels, promotion strategies including advertising and public relations, and how BMW addresses some legal and social issues in different parts of the world. BMW employs niche marketing and consistency in promoting their brand globally as the "ultimate driving machine".
Germany has the largest economy in Europe and the fourth largest GDP in the world. It has a GDP of $3.915 trillion and GDP per capita of $48,228. Germany is a major exporter, recording the highest trade surplus at $285 billion and being the third largest exporter globally. The country has a dense transportation network and is an important transportation hub in Europe due to its central location. The automotive industry is a major part of the German economy, accounting for 17% of exports. Germany produces over 29% of all passenger vehicles in Europe and 60 million cars annually, though it faces challenges from increasing competition.
The BMW strategic plan from 2015-2035 aims to position BMW as a leader in the luxury autonomous car industry, especially in China. BMW plans to sell between 3-6.7 million cars globally by 2035, with 800k-1.8 million in China. This will be achieved through strategic partnerships, an agile corporate culture, and focusing on innovation, collaboration and automation. BMW will monitor trends and regulations closely and remain flexible to changing conditions over the 20 year period.
BMW implements comprehensive risk management to identify and address threats to achieving corporate targets. Risks are evaluated based on impact and likelihood, and are categorized as high, medium, or low based on potential financial impact. Key risks include political and economic volatility, strategic risks, operational risks including purchasing and production, and financial risks such as foreign exchange and raw material costs. BMW addresses purchasing risk through supplier selection processes, monitoring suppliers, and identifying alternative materials. Risk management is coordinated across the company and regularly audited to ensure effective identification and mitigation of threats.
JP Morgan Deal Case Study 2012 - BMW and Harley DavidsonAnirban Ghosh
The document provides an overview and valuation of a potential acquisition of Harley-Davidson by BMW AG. It first profiles the motorcycle industry, BMW AG, and Harley-Davidson. It then discusses the rationale for the deal, including market expansion, addition of new product lines, and cost synergies. Key issues to consider for the acquisition are also outlined. The document values Harley-Davidson using three methodologies: discounted cash flow valuation, market multiples, and comparable transactions. It determines a valuation range for Harley-Davidson of $16-30 per share based on a weighting of the three methods. Finally, it assesses BMW AG's creditworthiness using the KMV model and determines BMW AG has
An Assessment and Analysis of the Marketing Techniques and Strategies of BMW ...Siddharth Sinha
This document provides an analysis of BMW's marketing techniques and strategies in the UK and India. It begins with an acknowledgment and includes the following sections: company profile, market segmentation, market targeting, marketing mix, SWOT analyses for each country, and conclusions and recommendations. The key points are:
- BMW segments the market in the UK by targeting successful business executives aged 25-45, while in India it focuses on individuals aged 30-40 with rising incomes.
- It uses the 4Ps of marketing - products tailored for each market, competitive pricing, wide placement/dealerships, and sales promotions.
- SWOT analyses find BMW's strengths are its luxury brand image while weaknesses include high prices;
Analyse Marketing Communicatie Plan BMW-i_final (15)Tim Hindriks
This document analyzes the Dutch electric vehicle (EV) market and potential target groups for BMW's new electric vehicle, the BMW i3. It provides an overview of the growing Dutch EV market and expected growth by 2020. It analyzes three potential customer groups - families, young professionals, and elderly people - and determines that the wealthy elderly are the best target group for the BMW i3 in the Dutch market. The elderly are more knowledgeable about sustainability, have a sustainable attitude, and buy the most new cars and segment B cars compared to the other groups.
BMW conducted a SWOT analysis to evaluate its strengths, weaknesses, opportunities, and threats in response to changes in the automobile industry. Some of BMW's key strengths included its reputation for luxury and quality, engineering history, and flexible facilities. Weaknesses included high manufacturing costs and overreliance on the 1 Series model. Opportunities existed in economies of scale from acquisitions and expanding into new market segments. Major threats included increased merger activity from larger competitors and more direct competition from brands like Volkswagen, Mercedes, and Toyota. BMW's acquisition of Rover aimed to capitalize on opportunities for increased scale and market coverage, but it ultimately failed and BMW had to reevaluate its strategy.
- Daimler AG is a leading global automaker comprised of Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Financial Services. It produces premium cars and commercial vehicles with global reach.
- In 2009, Daimler generated €78.9 billion in revenue, with the largest markets being Western Europe, NAFTA, and Asia. Mercedes-Benz has experienced strong sales growth in markets like China, Australia, and Brazil in 2010.
- Daimler's major competitors include BMW, Audi, Toyota, and Volkswagen. Mercedes-Benz is focusing on enhancing its brand positioning through consistent branding
Luca Buffolano : "BMW vs VOLKSWAGEN: TWO LEADING AUTOMAKER COMPANIES IN COMPA...Luca Buffolano
This document provides an analysis comparing the two major automaker companies BMW and Volkswagen. It discusses their histories, competitive advantages, market strategies, and product ranges. BMW's main competitive advantage is its focus on research and development to drive innovation and attract new customers. Volkswagen's strategy centers on expanding its product range to cover more market segments and improve customer satisfaction. Both companies aim to differentiate their products, with BMW focusing on electric vehicles and Volkswagen emphasizing alternative fuels like natural gas.
The BMW X3 is targeted towards consumers in the later stages of the family life cycle:
- Married with teenage children (Full Nest II): The X3 provides enough space and cargo capacity for an active family with older children, while still being a smaller SUV suitable for families with teenagers.
- Empty nest I (Older married couples, no children living with them, still working): As children move out, the X3 offers a versatile and luxurious vehicle that can be used for both family and personal needs.
- Empty nest II (Older married couples, no children living with them, retired): The X3 appeals to older consumers looking to downsize from a larger vehicle but still want the comfort, prestige and
This document provides an overview of BMW (Bayerische Motoren Werke) including its history, segments, brand portfolio, subsidiaries, production plants, joint ventures, purchasing and distribution networks, key markets, and comparisons to other automakers. It discusses BMW's global production network and locations worldwide and in Europe. Specific joint ventures with Brilliance China and SGL Group are described. Potential reasons given for not choosing BMW include high costs of production and ownership, inconsistent market share performance, reliability issues, lack of consumer incentives, and vehicles having fewer usable miles before becoming worthless.
Economic Report Africa 2014 feature story SOUTH AFRICADr Lendy Spires
A new wave of investments is coming into South Africa's automotive industry, with Toyota investing $33.2 million in a new parts warehouse and assembly line in Durban, and German auto company Friedrich Boysen putting $16.4 million into a new plant. The industry accounts for 30% of South Africa's manufacturing output and contributes significantly to GDP and exports. However, concerns remain about the growing imports of vehicles from Asia and Europe.
BMW is introducing its new P-Series pickup trucks targeted at the international premium automobile market. The strategic marketing plan outlines 4 new pickup truck models ranging in price from $36,959 to $71,279. It is estimated that the P-Series could see a 253% growth over the next 5 years, with projected sales of over 11,000 units. The plan details BMW's marketing strategy, which will utilize digital advertising, social media, dealerships and online sales channels. It projects $943 million in global sales and 166 million in profits by 2019 as BMW leverages its brand reputation for quality and innovation to enter the pickup truck segment.
BMW is a leading automotive company based in Munich, Germany that manufactures cars, motorcycles, and Rolls-Royce vehicles. A PESTEL analysis of BMW identified several political, economic, social, technological, environmental and legal factors that impact the company. These include environmental regulations, taxes, economic conditions, cultural trends, new technologies, consumer awareness of sustainability, and emission laws. A SWOT analysis found BMW's strengths to be its brand recognition, eco-friendly vehicles, quality emphasis, and skilled workforce, while weaknesses include higher costs than competitors and a small brand portfolio. Opportunities exist in rising fuel prices, demand for sustainable vehicles, and changing customer needs, while threats consist of competition, higher material
BMW has been the largest automobile company worldwide since its founding. It was influenced by political, economic, and socio-cultural macroenvironmental factors. BMW faced competitive rivalry from other luxury brands and substitution threats from alternatives like boats, motorbikes, and competing car models. In 2002, BMW's new CEO adopted an internal growth strategy aiming for 40% annual sales increases. BMW expanded into new markets like the US for cheaper labor and developed existing and new products globally. BMW's long term strategy focused on innovative development to ensure continued success.
BMW Group is a German automaker known for luxury vehicles. It has a global production network of 31 manufacturing facilities across 14 countries. BMW pursues strategic partnerships, including joint ventures in China and the US, to access new markets and suppliers. It has a large supplier network to support global production. The document provides an overview of BMW's history, brands, value chain, production sites, partnerships, and financial information.
The document summarizes brand tracking research conducted for easyJet in France in August 2012. It provides details on methodology, brand awareness, advertising recall, and brand perceptions over time. Key findings include:
- Brand awareness and consideration for easyJet remained stable or increased compared to previous surveys.
- Advertising recall for easyJet was slightly higher than previous waves, with most recall coming from airports and online.
- Message recognition and correct attribution to easyJet had improved since the new ad campaign launched.
The Italy AutoBook helps you to identify new customers in the Automotive industry and provides key contact information.
Automotive Intelligence for Professionals: The Italy AutoBook includes company profiles of OEM car makers, multinational and local automotive parts suppliers as well as organizations, media and exhibitions.
It also includes detailed statistics about Automotive sales, market share and OEM capacities.
BMW developed a marketing program based on relationship marketing to attract customers in the luxury market. The program uses integrated marketing communication including media promotion, product assistance, and a customer service hotline. Performance will be monitored using financial and non-financial indicators like monthly sales reports and customer feedback to ensure the program's success.
This document discusses the reorganization of Air France-KLM's sales processes in the Gulf region. It provides background information on Air France-KLM and the airline industry. It then states the problem that Air France-KLM faces intense competition from Gulf carriers who receive government support. The objectives of the research are to examine Air France-KLM's operations in the Gulf region and analyze their initiatives, opportunities, and challenges. The document outlines the scope and organization of the upcoming study.
BMW continues to perform well financially. Sales volume, revenues, and profits increased in the first quarter of 2015 compared to the previous year. Profitability ratios like return on equity and net profit margin improved from 2013 to 2014, indicating better control of expenses. Financial stability ratios also improved over time, with lower debt levels, faster inventory turnover, and higher interest coverage, though debtor collections slowed slightly. Given these positive trends, the document recommends BMW as a worthwhile investment.
Daimler AG is a leading German automotive manufacturer with a focus on premium vehicles. It has a diverse portfolio of brands including Mercedes-Benz cars, Daimler trucks, and Mercedes-Benz vans. The company has a global presence with manufacturing and sales worldwide. Daimler has experienced strong financial growth in recent years as revenues and profits have increased substantially. It is assessing an acquisition of Audi AG to gain access to new automotive technologies and accelerate its strategic objectives.
- The document discusses assumptions made in creating break even and 12 month projections for an innovation project at Harley-Davidson, as there is no publically available financial information on the product.
- Reasonable assumptions were made using corporate financial data from 2013 filings, assuming a first year sales volume of 5,000 units.
- Advertising expenses were projected at historical levels despite the innovation likely comprising a small portion of sales, to promote the new electric motorcycle concept in the industry.
JP Morgan Deal Case Study 2012 - BMW and Harley DavidsonAnirban Ghosh
The document provides an overview and valuation of a potential acquisition of Harley-Davidson by BMW AG. It first profiles the motorcycle industry, BMW AG, and Harley-Davidson. It then discusses the rationale for the deal, including market expansion, addition of new product lines, and cost synergies. Key issues to consider for the acquisition are also outlined. The document values Harley-Davidson using three methodologies: discounted cash flow valuation, market multiples, and comparable transactions. It determines a valuation range for Harley-Davidson of $16-30 per share based on a weighting of the three methods. Finally, it assesses BMW AG's creditworthiness using the KMV model and determines BMW AG has
An Assessment and Analysis of the Marketing Techniques and Strategies of BMW ...Siddharth Sinha
This document provides an analysis of BMW's marketing techniques and strategies in the UK and India. It begins with an acknowledgment and includes the following sections: company profile, market segmentation, market targeting, marketing mix, SWOT analyses for each country, and conclusions and recommendations. The key points are:
- BMW segments the market in the UK by targeting successful business executives aged 25-45, while in India it focuses on individuals aged 30-40 with rising incomes.
- It uses the 4Ps of marketing - products tailored for each market, competitive pricing, wide placement/dealerships, and sales promotions.
- SWOT analyses find BMW's strengths are its luxury brand image while weaknesses include high prices;
Analyse Marketing Communicatie Plan BMW-i_final (15)Tim Hindriks
This document analyzes the Dutch electric vehicle (EV) market and potential target groups for BMW's new electric vehicle, the BMW i3. It provides an overview of the growing Dutch EV market and expected growth by 2020. It analyzes three potential customer groups - families, young professionals, and elderly people - and determines that the wealthy elderly are the best target group for the BMW i3 in the Dutch market. The elderly are more knowledgeable about sustainability, have a sustainable attitude, and buy the most new cars and segment B cars compared to the other groups.
BMW conducted a SWOT analysis to evaluate its strengths, weaknesses, opportunities, and threats in response to changes in the automobile industry. Some of BMW's key strengths included its reputation for luxury and quality, engineering history, and flexible facilities. Weaknesses included high manufacturing costs and overreliance on the 1 Series model. Opportunities existed in economies of scale from acquisitions and expanding into new market segments. Major threats included increased merger activity from larger competitors and more direct competition from brands like Volkswagen, Mercedes, and Toyota. BMW's acquisition of Rover aimed to capitalize on opportunities for increased scale and market coverage, but it ultimately failed and BMW had to reevaluate its strategy.
- Daimler AG is a leading global automaker comprised of Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Financial Services. It produces premium cars and commercial vehicles with global reach.
- In 2009, Daimler generated €78.9 billion in revenue, with the largest markets being Western Europe, NAFTA, and Asia. Mercedes-Benz has experienced strong sales growth in markets like China, Australia, and Brazil in 2010.
- Daimler's major competitors include BMW, Audi, Toyota, and Volkswagen. Mercedes-Benz is focusing on enhancing its brand positioning through consistent branding
Luca Buffolano : "BMW vs VOLKSWAGEN: TWO LEADING AUTOMAKER COMPANIES IN COMPA...Luca Buffolano
This document provides an analysis comparing the two major automaker companies BMW and Volkswagen. It discusses their histories, competitive advantages, market strategies, and product ranges. BMW's main competitive advantage is its focus on research and development to drive innovation and attract new customers. Volkswagen's strategy centers on expanding its product range to cover more market segments and improve customer satisfaction. Both companies aim to differentiate their products, with BMW focusing on electric vehicles and Volkswagen emphasizing alternative fuels like natural gas.
The BMW X3 is targeted towards consumers in the later stages of the family life cycle:
- Married with teenage children (Full Nest II): The X3 provides enough space and cargo capacity for an active family with older children, while still being a smaller SUV suitable for families with teenagers.
- Empty nest I (Older married couples, no children living with them, still working): As children move out, the X3 offers a versatile and luxurious vehicle that can be used for both family and personal needs.
- Empty nest II (Older married couples, no children living with them, retired): The X3 appeals to older consumers looking to downsize from a larger vehicle but still want the comfort, prestige and
This document provides an overview of BMW (Bayerische Motoren Werke) including its history, segments, brand portfolio, subsidiaries, production plants, joint ventures, purchasing and distribution networks, key markets, and comparisons to other automakers. It discusses BMW's global production network and locations worldwide and in Europe. Specific joint ventures with Brilliance China and SGL Group are described. Potential reasons given for not choosing BMW include high costs of production and ownership, inconsistent market share performance, reliability issues, lack of consumer incentives, and vehicles having fewer usable miles before becoming worthless.
Economic Report Africa 2014 feature story SOUTH AFRICADr Lendy Spires
A new wave of investments is coming into South Africa's automotive industry, with Toyota investing $33.2 million in a new parts warehouse and assembly line in Durban, and German auto company Friedrich Boysen putting $16.4 million into a new plant. The industry accounts for 30% of South Africa's manufacturing output and contributes significantly to GDP and exports. However, concerns remain about the growing imports of vehicles from Asia and Europe.
BMW is introducing its new P-Series pickup trucks targeted at the international premium automobile market. The strategic marketing plan outlines 4 new pickup truck models ranging in price from $36,959 to $71,279. It is estimated that the P-Series could see a 253% growth over the next 5 years, with projected sales of over 11,000 units. The plan details BMW's marketing strategy, which will utilize digital advertising, social media, dealerships and online sales channels. It projects $943 million in global sales and 166 million in profits by 2019 as BMW leverages its brand reputation for quality and innovation to enter the pickup truck segment.
BMW is a leading automotive company based in Munich, Germany that manufactures cars, motorcycles, and Rolls-Royce vehicles. A PESTEL analysis of BMW identified several political, economic, social, technological, environmental and legal factors that impact the company. These include environmental regulations, taxes, economic conditions, cultural trends, new technologies, consumer awareness of sustainability, and emission laws. A SWOT analysis found BMW's strengths to be its brand recognition, eco-friendly vehicles, quality emphasis, and skilled workforce, while weaknesses include higher costs than competitors and a small brand portfolio. Opportunities exist in rising fuel prices, demand for sustainable vehicles, and changing customer needs, while threats consist of competition, higher material
BMW has been the largest automobile company worldwide since its founding. It was influenced by political, economic, and socio-cultural macroenvironmental factors. BMW faced competitive rivalry from other luxury brands and substitution threats from alternatives like boats, motorbikes, and competing car models. In 2002, BMW's new CEO adopted an internal growth strategy aiming for 40% annual sales increases. BMW expanded into new markets like the US for cheaper labor and developed existing and new products globally. BMW's long term strategy focused on innovative development to ensure continued success.
BMW Group is a German automaker known for luxury vehicles. It has a global production network of 31 manufacturing facilities across 14 countries. BMW pursues strategic partnerships, including joint ventures in China and the US, to access new markets and suppliers. It has a large supplier network to support global production. The document provides an overview of BMW's history, brands, value chain, production sites, partnerships, and financial information.
The document summarizes brand tracking research conducted for easyJet in France in August 2012. It provides details on methodology, brand awareness, advertising recall, and brand perceptions over time. Key findings include:
- Brand awareness and consideration for easyJet remained stable or increased compared to previous surveys.
- Advertising recall for easyJet was slightly higher than previous waves, with most recall coming from airports and online.
- Message recognition and correct attribution to easyJet had improved since the new ad campaign launched.
The Italy AutoBook helps you to identify new customers in the Automotive industry and provides key contact information.
Automotive Intelligence for Professionals: The Italy AutoBook includes company profiles of OEM car makers, multinational and local automotive parts suppliers as well as organizations, media and exhibitions.
It also includes detailed statistics about Automotive sales, market share and OEM capacities.
BMW developed a marketing program based on relationship marketing to attract customers in the luxury market. The program uses integrated marketing communication including media promotion, product assistance, and a customer service hotline. Performance will be monitored using financial and non-financial indicators like monthly sales reports and customer feedback to ensure the program's success.
This document discusses the reorganization of Air France-KLM's sales processes in the Gulf region. It provides background information on Air France-KLM and the airline industry. It then states the problem that Air France-KLM faces intense competition from Gulf carriers who receive government support. The objectives of the research are to examine Air France-KLM's operations in the Gulf region and analyze their initiatives, opportunities, and challenges. The document outlines the scope and organization of the upcoming study.
BMW continues to perform well financially. Sales volume, revenues, and profits increased in the first quarter of 2015 compared to the previous year. Profitability ratios like return on equity and net profit margin improved from 2013 to 2014, indicating better control of expenses. Financial stability ratios also improved over time, with lower debt levels, faster inventory turnover, and higher interest coverage, though debtor collections slowed slightly. Given these positive trends, the document recommends BMW as a worthwhile investment.
Daimler AG is a leading German automotive manufacturer with a focus on premium vehicles. It has a diverse portfolio of brands including Mercedes-Benz cars, Daimler trucks, and Mercedes-Benz vans. The company has a global presence with manufacturing and sales worldwide. Daimler has experienced strong financial growth in recent years as revenues and profits have increased substantially. It is assessing an acquisition of Audi AG to gain access to new automotive technologies and accelerate its strategic objectives.
- The document discusses assumptions made in creating break even and 12 month projections for an innovation project at Harley-Davidson, as there is no publically available financial information on the product.
- Reasonable assumptions were made using corporate financial data from 2013 filings, assuming a first year sales volume of 5,000 units.
- Advertising expenses were projected at historical levels despite the innovation likely comprising a small portion of sales, to promote the new electric motorcycle concept in the industry.
The annual report summarizes Daimler's financial results for 2007. It provides key figures on revenue, earnings, employees and other metrics for each of Daimler's divisions - Mercedes-Benz Cars, Daimler Trucks, Daimler Financial Services, and Vans, Buses, Other. Overall, Daimler achieved increased revenue and profitability in 2007 compared to 2006, despite challenges in some markets. All divisions contributed positively to earnings.
William Blair 2017 Growth Stock Conferencecorporationlkq
The document provides an overview of William Blair's 2017 Growth Stock Conference on June 13, 2017. It includes forward-looking statements and discusses LKQ Corporation's mission to be the leading global distributor of vehicle parts and accessories. The document outlines LKQ's evolution through acquisitions, acquisition philosophies, operating segments, and provides an overview of the large and fragmented North American and European vehicle parts markets that LKQ serves.
The document discusses constructing an internal factor evaluation (IFE) matrix for Ford Motor Company in 2015. It provides the 20 key internal factors for Ford identified through an internal audit, assigns weights and ratings to each factor, and calculates the total weighted score. The analysis finds that Ford has an above average total weighted score of 2.79, indicating room for improvement, and that door handle and seat belt issues were a notable weakness.
Here you can find the annual report for the year 2009 of Volkswagen Financial Services AG. For further information please refer to http://www.vwfs.com/annualreport
Mercer Capital's Value Focus: Auto Dealer Industry | Year-End 2018Mercer Capital
Mercer Capital's Auto Dealer Industry newsletter provides perspective on valuation issues. Each newsletter also includes macroeconomic trends, industry trends, and guideline public company metrics.
This document provides an overview and analysis of financial statements and financial ratios. It begins with definitions and comparisons of key financial statements (balance sheet, income statement, cash flow statement) and accounting standards (HGB, IFRS, US-GAAP). Next, it describes types of financial ratios and their categories. Finally, it provides two case studies analyzing automaker ratios from 2015 and Volkswagen Group ratios from 2006-2016 to evaluate performance over time and relative to competitors/industry averages.
Lkq corporation bairds 2017 global consumer technology and services conferencecorporationlkq
The document discusses LKQ Corporation's forward-looking statements policy. It notes that statements in company presentations that are not historical facts are considered forward-looking statements. These statements involve risks and uncertainties. The document also lists risk factors investors should consider that are disclosed in LKQ's annual and quarterly SEC filings.
Overview on the Toyota production system principles, techniques and theories.
The presentation include:
-Lean Manufacturing Principles
-Productivity Measurement, Analysis and Improvement
-Effect & Elimination of the Manufacturing 7-Wastes
-Lean Improvement Techniques
-Lean Management for Making Improvement & Gaining Sustainability
This document analyzes the security of an investment in Under Armour. It provides financial highlights and ratios for 2013-2016 and projections through 2020. Key points include high debt/equity ratios that pose financial risk, increasing assets but decreasing asset turnover, and recommendations to hold the stock with a price target of $30.63 based on discounted cash flow valuation. Risks discussed are related to finances, markets, and operations.
This document provides an overview of a car rental company with three main divisions: car rental, fleet rental, and used car sales (Seminovos). It discusses the company's history and expansion, integrated business platform and synergies, financial performance of each division, and competitive advantages. The company has a large scale national presence in Brazil, investment grade ratings, and benefits from being the largest car purchaser in the country. It has a profitable business model focused on car rental and fleet rental.
This document provides an overview of Localiza, a car rental company in Brazil. It discusses Localiza's business divisions including car rental, fleet rental, and used car sales. It highlights Localiza's competitive advantages such as its scale in purchasing cars which allows it to negotiate better prices. It also notes Localiza's network reach and innovations that enhance customer service. Financial information shows Localiza has higher profitability and lower debt ratios than competitors. The car rental market in Brazil is seen as having growth opportunities due to increasing affordability and infrastructure investments.
This document provides an overview of a car rental company with three main divisions: car rental, fleet rental, and used car sales (Seminovos). It discusses the company's history and expansion, integrated business platform and synergies across divisions. Financial details are given for each division showing profitability comes mainly from car and fleet rental. The company has competitive advantages in raising capital, purchasing vehicles, nationwide presence, and innovation. It has higher profitability and lower debt ratios than competitors.
A financial ratio (or accounting ratio) is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization. Financial ratios may be used by managers within a firm, by current and potential shareholders (owners) of a firm, and by a firm's creditors. Financial analysts use financial ratios to compare the strengths and weaknesses in various companies.[1] If shares in a company are traded in a financial market, the market price of the shares is used in certain financial ratios.
Ratios can be expressed as a decimal value, such as 0.10, or given as an equivalent percent value, such as 10%. Some ratios are usually quoted as percentages, especially ratios that are usually or always less than 1, such as earnings yield, while others are usually quoted as decimal numbers, especially ratios that are usually more than 1, such as P/E ratio; these latter are also called multiples. Given any ratio, one can take its reciprocal; if the ratio was above 1, the reciprocal will be below 1, and conversely. The reciprocal expresses the same information, but may be more understandable: for instance, the earnings yield can be compared with bond yields, while the P/E ratio cannot be: for example, a P/E ratio of 20 corresponds to an earnings yield of 5%.
Values used in calculating financial ratios are taken from the balance sheet, income statement, statement of cash flows or (sometimes) the statement of retained earnings. These comprise the firm's "accounting statements" or financial statements. The statements' data is based on the accounting method and accounting standards used by the organization.
Ratios
Profitability ratios
Liquidity ratios
Activity ratios (Efficiency Ratios)
Debt ratios (leveraging ratios)
Market ratios
Capital budgeting ratios
Financial ratios quantify many aspects of a business and are an integral part of the financial statement analysis. Financial ratios are categorized according to the financial aspect of the business which the ratio measures. Liquidity ratios measure the availability of cash to pay debt.[2] Activity ratios measure how quickly a firm converts non-cash assets to cash assets.[3] Debt ratios measure the firm's ability to repay long-term debt.[4] Profitability ratios measure the firm's use of its assets and control of its expenses to generate an acceptable rate of return.[5] Market ratios measure investor response to owning a company's stock and also the cost of issuing stock.[6] These are concerned with the return on investment for shareholders, and with the relationship between return and the value of an investment in company’s shares.
Financial ratios allow for comparisons
between companies
between industries
between different time periods for one company
between a single company and its industry average
1. The document provides an analysis of Enterprise Products Partners LP (EPD), a midstream energy services company. It examines EPD's financial profile, comparable companies, and performs valuation analyses including comparable company analysis, discounted cash flow analysis, and precedent transaction analysis.
2. A key finding is that while EPD's revenues dropped 40% due to oil market volatility, it was able to cut costs by 43% and maintain stable profitability ratios. The analysis identifies several comparable midstream MLP companies to EPD and derives an implied share price of $18.81 for EPD based on comparable company multiples.
3. Valuation methods applied include comparable company analysis using EV/EBITDA multiples, discounted cash flow
Localiza is a Brazilian car rental company founded in 1973. It has since grown to become the largest car rental company in Brazil through a strategy of expansion into adjacent businesses. It operates four main divisions: car rental, fleet rental, used car sales, and franchising. The presentation provides an overview of each division and highlights Localiza's competitive advantages in raising capital, purchasing vehicles, renting vehicles, and selling used vehicles. It also reviews the company's financial performance and profitability metrics compared to its main competitors in Brazil.
Common size statements normalize financial data to allow for easier comparison across companies and time periods. They express balance sheet items as a percentage of total assets and income statement items as a percentage of sales. Comparing the common size statements of Companies A, B, and C shows that while Company A has the smallest sales, it has the highest net income ratio at 18%. Company C has the lowest cost of goods sold ratio, indicating it has been able to lower production costs through higher R&D spending than Company B. The effective tax rate for all three companies is 40%, providing a more meaningful comparison than the common size tax expense percentages alone.
1. 1
Sharif University of Technology
Graduate School of Management and Economics
Reza Esmaeili
2. Worldwide automobile production from 2000 to 2014
2
Million vehicles
According to a forecast by
PwC, in 2017 a total of 102
million vehicles will be
manufactured worldwide.
One of the world's most
important economic
sectors by revenue
3. China, 26.43%, 26%
European Union, 18.92%,
19%
United States, 12.99%, 13%
Japan, 10.89%, 11%
Iran, 1.22%, 1%
Rest of the World, 29.55%,
30%
MOTOR VEHICLE PRODUCTION
3
Motor vehicle production by countries
4. Who exported Cars in 2012?
This map shows only gross
export amount.
USA was the largest net
importer, also UK and France
are net importers.
Net Export Worth: 645B USD
4
5. Leading automobile manufacturers worldwide
10.23
10.14
9.92
8.47
7.71
6.32
4.75
4.36
2.94
2.88
2.53
2.12
1.38
1.19
1.15
1.08
1.04
0.97
0 2 4 6 8 10 12
Toyota
Volkswagon
GM
Renault-…
Hyundai-Kia
Ford
Fiat-Chrystler
Honda
PSA
Suzuki
Daimler
BMW
Mazda
Dongfeng
Changan
Mitsubishi
BAIC
Tata
Million units
Leading automobile manufacturers in 2014, based on vehicle sales
5
6. Revenue of the leading automotive manufacturers
worldwide
202.46
188.16
129.87
128.82
119.03
96.09
87.36
80.4
79.35
67.56
53.61
41.06
35.65
21.19
20.77
15.25
0 50 100 150 200 250
Volkswagon
Toyota
Daimler
GM
Ford
Fiat-Chrysler
Honda
BMW
Nissan
Hyundai
Peugeot
Renault
Kia
Suzuki
Mazda
Mitsubishi
Billion euros
Revenue of the leading automotive manufacturers worldwide in 2014
6
7. Worlds most valuable brand in automotive industry (Forbes 2015)
7
Lexus # 66 $8 B
Brand World
Rank
Brand
Value
Volkswagen # 67 $8 B
Toyota # 8 $37.8 B
BMW # 16 $27.5 B
Honda # 23 $22.6 B
Mercedes-Benz # 24 $22.5 B
Audi # 39 $12.8 B
Ford # 41 $12.5 B
Chevrolet # 62 $9 B
Hyundai # 64 $8.4 B
8. The BMW Group
8
Bayerische Motoren Werke
Type: Aktiengesellschaft (AG)
Industry: Automotive
Founded: 1916
Headquarters: Munich, Bavaria, Germany
Area served: Worldwide
Products: Luxury vehicles, sports
cars, motorcycles
Services: Financial Service
2014 Overview
Production output: 2.12 million cars
123,000 motorcycles
Revenue: €80.40 billion
Operating income: €8.71 billion
Total assets: €154.80 billion
No of employees: 116,324
Diversity: 30 production facilities
in 14 countries
Sales Network: 142 countries
Global Ranking (Forbes 2015)
#16 Most Valuable Brands
#45 Biggest Public Companies
#52 in Sales
#61 in Profit
#151 in Assets
#7 America's Best Employers
Mission Statement
To be the most successful premium
manufacturer in the industry.
Slogan "Sheer Driving Pleasure“ (Worldwide)
"The Ultimate Driving Machine“ (United States)
"The Ultimate Driving Experience“ (Canada)
9. 17.4
16.7
12.6
53.3
Stefan Quandt
Johanna Quandt
Susanne Klatten
Free Float
Age: 89
Matriarch of BMW Clan
77th richest person in the world
Age 53 Net Worth 15.3 billion USD
the richest woman in Germany
the 54th richest person in the world.
Age 49 Net Worth 13.4 billion USD
the 59th richest person in the world
Shareholder Structure
9
Deceased: August 3, 2015
11. BMW Group in Figures
A big financial picture of BMW performance 2010-2014, For people
who are not interested in details of the report
Report of Supervisory
Board
Joachim
Milberg
Statement of Chairman of
the Board of Management
Norbert
Reithofer
Combined Management
Report
General Information on
the BMW Group
Group Financial Statement
Statement on Corporate
Governance
Other Information
BMW Annual Report
Issued: 31 Dec 2014
General Information on the BMW Group
• Business Model
• Management System
• Financial and Non-financial Performance Indicators
• Review of Operations
• Events after the End of the Reporting Period
• Risks and Opportunities
• Financial Reporting Process
• BMW Stock and Capital Markets in 2014
Group financial Statements
• Income Statements
• Balance Sheets
• Cash Flow
• Statement of Changes in Equity
• Notes to the Financial Statements
Statement on Corporate Governance
• Company’s Governing Constitution
• Members of the Boards
• Composition and Work Procedures
• Practices beyond Mandatory Requirements
• Responsibility Statement
• Auditor’s Report
Other Information
• BMW Group Ten-year Comparison
• BMW Group Locations
• Glossary
• Index
• Financial Calendar
• Contacts
Who are these guys?
11
12. Profitability of BMW?!
The answer is EVA…
Is it beneficial to run BMW?
First Question…!
If yes
By how much?!
What is it?
Economic value added (EVA) is an internal management performance
measure that compares net operating profit to total cost of capital.
How is it calculated?
EVA = Net Operating Profit After Tax (NOPAT) – Cost of Capital
Cost of Capital = Capital Invested x WACC
WACC: weighted average cost of capital
i.e.
Economic Value Added
Or
Economic Profit
12
13. Profitability of BMW?!
The pre-tax average weighted cost of
capital for the BMW Group in 2014 was
12 %, unchanged from the previous year.
13
14. BMW comparison with two
other prominent brands
Revenue 157,236,030 $ 97,341,491 $ 227,096,000 $
Revenue per Employee 561,000 $ 836,000 $ 670,000 $
Total Assets 229,591,095 $ 187,419,992 $ 397,997,000 $
No of Employees 279,972 116,324 338,875
Production (Units) 2,530,000 2,120,000 10,230,000
Net Profit 8,428,893 $ 7,019,639 $ 18,122,000 $ Do not Panic!
It’s only a mellow ratio!
14
15. Liquidity Measurement Ratios
Current Ratio
Profit Margin Analysis
Cash Flow To Debt Ratio
Quick Ratio
Cash Conversion Ratio
Cash Ratio
Profitability Indicator Ratios
Effective Tax Rate
Debt Ratios
Return On Assets
Return On Capital Employed
Return On Equity
Overview of Debt
Debt Ratio
Debt-Equity Ratio
Interest Coverage Ratio
Capitalization Ratio
Operating Performance Ratios
Fixed Asset Turnover
Sales/Revenue Per Employee
Operating Cycle
Operating Cash Flow/Sales Ratio
Cash Flow Indicator Ratios
Free Cash Flow/Operating Cash Ratio
Cash Flow Coverage Ratio
Investment Valuation Ratios
Dividend Payout Ratio
Per Share Data
Price/Book Value Ratio
Price/Earnings To Growth Ratio
Price/Cash Flow Ratio
Price/Sales Ratio
Dividend Yield
Enterprise Value Multiple
Price/Earnings Ratio
Financial Ratios
15
16. Liquidity Measurement Ratios
Current Ratio
Profit Margin Analysis
Quick Ratio
Profitability Indicator Ratios
Effective Tax Rate
Debt Ratios
Return On Assets
Return On Equity
Debt Ratio
Interest Coverage Ratio
Operating Performance Ratios
Fixed Asset Turnover
Investment Valuation Ratios
Price/Earnings Ratio
Financial Ratios
16
17. Current Ratio
What you need: Balance Sheet
The formula: Current Ratio = Current Assets / Current Liabilities
What it means: The current ratio measures a company's ability to
pay its short-term liabilities with its short-term assets. If the ratio
is over 1.0, the firm has more short-term assets than short-term
debts. But if the current ratio is less than 1.0, the opposite is true
and the company could be vulnerable to unexpected bumps in the
economy or business climate.
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
INDUSTRY
1.02 0.96 1.15 1.09 1.27
• current assets are not sufficient to cover short
term liabilities
• ratio is below the lowest permitted level
• if the current ratio is higher than the industry
standard level, there is an insufficient use of the
resources
17
18. Quick Ratio
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
INDUSTRY
0.83 0.77 0.84 0.96 0.63
What you need: Balance Sheet
The formula: Quick Ratio = (Current Assets - Inventory) / Current Liabilities
What it means: The quick ratio (also known as the acid-test ratio) is similar
to the current ratio in that it's a measure of how well a company can meet its
short-term financial liabilities. However, it takes the concept one step further.
The quick ratio backs out inventory because it assumes that selling inventory
would take several weeks or months. The quick ratio only takes into account
those assets that could be used to pay short-term debts today.
• they are not able to settle their current
liabilities instantaneously
• a low quick ratio suggests liquidity risk, or,
better credit terms with suppliers than the
competitors
• these three companies have higher ratio than
the industry average, it proves their superiority
over other brands.
18
19. Total Assets Turnover
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
INDUSTRY
0.55 0.52 0.68 0.57 0.91
What you need: Balance Sheet
The formula: Total assets turnover = Sales / Total Assets
What it means: A higher number is preferable, since it suggests that the
company is using its assets efficiently to make money. A lower number may
convince a company to try other methods to help maximize the efficiency
of its assets. Nevertheless, this ratio varies between industries and can only
be compared effectively between businesses in the same sector .
• lower than the industry standard
• Reasons could be excess production capacity,
poor inventory management, lax collection
methods
• improvement could be done via increasing
sales, decreasing fix assets, or decreasing
working capital
19
20. Debt Ratio
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
0.74 0.76 0.76 0.65
What you need: Balance Sheet
The formula: Total debt / Total assets
Where: Total Debt = Non-current provisions and liabilities + Current
provisions and liabilities = Total Equity and Liabilities - Equity
What it means: Measures the extent to which borrowed funds have
been used to finance the firm's operations. The higher this ratio, the
more leveraged the company is, implying greater financial risk. At the
same time, leverage is an important tool that companies use to grow,
and many businesses find sustainable uses for debt .
• lower value of debt ratio is favorable
• great value indicates:
1. higher portion of company’s assets are
claimed by its creditors
2. difficult to obtain loans for new projects
20
21. Interest Coverage Ratio
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
INDUSTRY
24.85 22.36 26.18 127.29 8.38
What you need: Income Statement
The formula: Interest Coverage Ratio = EBIT / Interest Expense
What it means: Both EBIT (aka, operating income) and interest
expense are found on the income statement. The interest coverage
ratio, also known as times interest earned (TIE), is a measure of
how well a company can meet its interest payment obligations. If
a company can't make enough to make interest payments, it will
be forced into bankruptcy. Anything lower than 1.0 is usually a
sign of trouble.
advisable to maintain an interest coverage of at least 2
times
• interest cover of lower than 1.5 times: fluctuations
in profitability and potential to delays in interest
payments
21
22. Revenue
Sales (revenue) $20,438
Operating expenses
Cost of goods sold $7,943
Selling, general and administrative expenses $8,172
Depreciation and amortization $960
Other expenses $138
Total operating expenses $17,213
Operating income $3,225
Non-operating income $130
Earnings before Interest and taxes (EBIT) $3,355
Financial income $45
Income before interest expense (IBIE) $3,400
Financial expense $190
Earnings before income taxes (EBT) $3,210
Income taxes $1,027
Net income $2,183
Examplestatementofincome(figuresinthousands)
Profitability Ratios
Profitability Ratios
Basically, it is the amount of
profit (at the gross, operating,
pretax or net income level)
generated by the company as a
percent of the sales generated.
22
23. Operating Margin
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
INDUSTRY
10.29% 11.18% 7.20% 10.71% 12.40%
What you need: Income Statement
The formula: Operating Margin (Return on Sale) =
Profits before taxes and interest / Sales
What it means: Operating margin measures a company's
pricing strategy and operating efficiency. Operating margin is a
measurement of what proportion of a company's revenue is left
over after paying for variable costs of production such as
wages, raw materials, etc.
the BMW’s operating margin is quite high it is
preferred because the company make more money
for each euro of sales
• BMW is more profitable than BENZ and TOYOTA
23
24. Net Profit Margin
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
INDUSTRY
6.97% 7.21% 5.36% 7.98% 10.38%
What you need: Income Statement
The formula: Profit Margin = Net Income / Sales
What it means: Profit margin calculates how much of a
company's total sales flow through to the bottom line. As you
can probably tell, higher profits are better for shareholders, as
is a high (and/or increasing) profit margin.
• net profit margin of BMW is higher than BENZ but
lower than TOYOTA and the average of cars industry
• It implies the lower tax rate in Japan than in Germany
24
25. Return On Equity (ROE)
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
14.96% 15.55% 15.94% 12.95%
What you need: Income Statement, Balance Sheet
The formula: ROE = Net Income / Average Stockholder Equity
What it means: Equity is another word for ownership. ROE
tells you how good a company is at rewarding its shareholders
for their investment. For example, if Company B reported
$10,000 of net income and its shareholders have $200,000 in
equity, its ROE is 5%. For every $1 of equity shareholders own,
the company generates $0.05 in profits each year. As with ROA,
higher is better.
• BMW is outperforming TOYOTA
25
26. Return On Assets (ROA)
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
3.93% 3.96% 3.89% 4.53%
What you need: Income Statement, Balance Sheet
The formula: ROA = Net Income / Average Total Assets
What it means: A company buys assets (factories, equipment,
etc.) in order to conduct its business. ROA tells you how good
the company is at using its assets to make money. For example,
if Company A reported $10,000 of net income and owns
$100,000 in assets, its ROA is 10%. For ever $1 of assets it
owns, it can generate $0.10 in profits each year. With ROA,
higher is better.
• for ROA, it’s important to consider the industry and
the sector of company
26
27. Price/Earnings Ratio
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
10.50 10.20 10.58 10.13
What you need: Income Statement, Most Recent Stock Price
The formula: P/E Ratio = Price per Share / Earnings Per Share
What it means: Think of the price-to-earnings ratio as the price
you'll pay for $1 of earnings. A very, very general rule of thumb
is that shares trading at a "low" P/E are a value, though the
definition of "low" varies from industry to industry.
• BMW shows a desirable value, but TOYOTA’s status
is more promissing
27
28. Effective Tax Rate
BMW
DEC.2013
BMW
DEC.2014
BENZ
DEC.2014
TOYOTA
MAR.2015
34.1 % 33.6 % 32.0 % 30.8 %
What you need: Income Statement
The formula: Income Tax Expense / Pretax Income
What it means: The average rate at which an individual or
corporation is taxed. The effective tax rate for individuals is the
average rate at which their earned income is taxed.
• Toyota incurs less tax rate
Effective Tax Rate
28
30. I. www.bmw.com
II. https://www.daimler.com
III. www.toyota.com
IV. http://www.forbes.com/powerful-brands/list/
V. http://www.statista.com/statistics/262747/worldwide-automobile-production-since-2000/
VI. http://csimarket.com/Industry/Industry_Data.php?ind=404
VII. https://en.wikipedia.org/wiki/Automotive_industry
VIII.https://en.wikipedia.org/wiki/Earnings_before_interest_and_taxes
IX. http://www.hl.co.uk/shares/shares-search-results/b/bayerische-motoren-werke-ag-eur1
X. http://www.gurufocus.com/term/pe/DDAIF/P%252FE%2BRatio/Daimler%2BAG
XI. http://www.gurufocus.com/term/pe/TM/P%252FE%2BRatio/Toyota%2BMotor%2BCorp
References
30
31. Thanks to my wife, Samira,
who helped me all the way.
Contact:
Esmaeili_reza@gsme.sharif.edu
Esmaeili.rza@gmail.com
31
Editor's Notes
http://www.statista.com/statistics/262747/worldwide-automobile-production-since-2000/
PricewaterhouseCoopers is a multinational professional services network. It is the largest professional services firm in the world, and is one of the Big Four auditors, along with Deloitte, EY and KPMG.
https://en.wikipedia.org/wiki/Automotive_industry
DEFINITION of 'Corporate Governance'
The system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of the many stakeholdersin a company - these include its shareholders, management, customers, suppliers, financiers, government and the community. Since corporate governance also provides the framework for attaining a company's objectives, it encompasses practically every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure.