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

Prestige and premium will also play an important role in the future. But some people define these values differently today.

As far as I'm concerned, however, it is clear that the concept of premium will be increasingly defined through sustainability in the future.

There were certainly those who rubbed their eyes in astonishment. But when we held a company discussion forum with Joschka Fischer, interest was high. Six hundred senior managers came to the meeting. In the end, there was tremendous applause for Fischer, because he offered a precise analysis of the challenges our industry faces worldwide.

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.

BMW models are more powerful on average than competitors. This is precisely what we are aiming for: less fuel consumption and more driving pleasure.

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.