Racing to cut emissions, not Lap times
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THE INDUSTRY SHOULD look at BMW's decision to withdraw from Formula 1. Over time, the manufacturer's decision will be seen as a genuine watershed moment, which signals that the motor industry at large is now racing to reduce emissions rather than cut lap times We should consider this a positive step forward, rather than mourning another 'victim' of the recession. BMW is thinking about how it must adapt in order to prosper, and is focusing on the appropriate areas of its business.
BMW's explanation that "premium will increasingly be defined in terms of sustainability and environmental compatibility," says it all, and it points to a company that has really decided to grasp the CO2 nettle and is prepared to forge ahead with its low emissionsbased strategy.
For a marque that has protected its RVs as fiercely as its engine technology this shows that the most important race in today's world is against carbon, and not the clock. And if BMW's Fl cash is reinvested where we think it will be, the prize for fleets and drivers will be a lot less taxation.
Steve Osborne Head of fleet management Lloyds TSB Autolease