MARCH 9, 2005
Why Formula 1 is important in Germany
Formula 1 has a very high profile in Germany thanks to the exploits of Michael Schumacher but it is also vital in the marketing battle that goes on between BMW and Mercedes-Benz. On Tuesday BMW announced that global sales of the brand rose by 7.3% in February. The company has been enjoying strong sales thanks to a new product range and last year overtook Mercedes-Benz in terms of sales, the two companies delivering around 1.2m each to their customers. Mercedes-Benz's figure for February indicate an 11.6% drop in sales and the company's new boss Eckhard Cordes is introducing a plan to cut $1bn in fixed costs and is pushing for new models and better quality.
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