In the European Union, a fleet average of 95 grams of CO2 per kilometer will be permitted in 2020. This corresponds to fuel consumption of about four liters (per 100 kilometers; about 59 mpg). We have to continue reducing the fuel consumption of our vehicles and offer hybrid and electric vehicles, or else we will be unable to achieve these values.

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.

I have told our senior executives that I will slaughter holy cows if it benefits the company's long-term success. When we asked ourselves whether Formula 1 still matched the concept of a sustainable company, the clear answer was no.

As far as I'm concerned, it is clear that the concept of premium will be increasingly defined through sustainability in the future. BMW, like no other brand, will still stand for vitality and driving pleasure in the future. But it will also represent efficiency and environmental friendliness.

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

It isn't a given that the companies that provide mobility today will also be the ones to do so tomorrow. Every company has to work hard to make this happen.

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