Size alone is not a key to success, as we have seen recently.

Statistics compiled by the German Federal Motor Transport Authority highlight how successfully we have reduced fuel consumption. A few years ago, the CO2 emissions for the BMW brand were at well over 200 grams per kilometer. In 2009, that number was at 159 grams. This puts us below our direct competitors.

European carmakers pledged to reduce CO2 emissions by 25 percent from 1995 to 2008. We kept our word and reduced the value even more. This is not the result of short-term gimmickry. We decided years ago to develop the relevant models and engines, otherwise we wouldn't be able to offer them today.

I am firmly convinced that the trend toward more fuel-efficient vehicles is not a fad. Gas prices will continue to rise in the medium to long term, because demand is growing considerably in China, India and other countries.

One doesn't have to be a large corporation to benefit from the advantages of volume. This can also be achieved through joint ventures.

Politicians in Europe want change. The United States and China will follow this trend. One could see this is a threat, but it's also an opportunity. We at BMW want to take advantage of this and, through innovations, place ourselves at the forefront.

Size alone is not a key to success, as we have seen recently.