Harald Krüger’s first year as chief executive of BMW came during a turbulent time in the auto industry. First the Chinese sales boom petered out, then the diesel emissions scandal at Volkswagen tarnished the entire sector.
But despite these factors, Munich-based luxury automaker BMW chalked up its sixth successive record year in 2015. The dividend payout will exceed €2 billion ($2.28 billion), an unprecedented sum, of which half will go to the Quandt family, which owns a 46.6 percent stake.
BMW, it seems, has found the secret of sustained success. Since 2005, the group has almost doubled its unit sales and quadrupled its dividend. Then as now, 90 percent of revenue comes from its car division, dominated by the core BMW brand, alongside British brands Rolls-Royce and Mini. The remainder comes from financial services and from its motorcycle division which accounts for just 2 percent of sales. All divisions achieved growth in sales and earnings in 2015.