Audi beats BMW with bigger bonus
|Douglas A. Bolduc is managing editor at Automotive News Europe.|
Audi may be No. 2 to BMW in global luxury car sales so far this year, but it's well ahead of its Bavarian rival in a very important category with workers: annual profit-sharing bonus. Audi employees are getting 6,513 euros on average for 2010 while the average payout at BMW is 5,840 euros. Much like the global ranking for premium-car sales, Daimler also is third in this area, with an average payout of 3,150 euros for 2010.
Employees whose jobs are covered under the companies' collective bargaining agreements are receiving big profit-sharing payouts because of the massive success their employers enjoyed in 2010.
The average payout given to Audi employees for 2010 beats the company's previous best of 5,307 euros on average for 2008. Audi sold a record 1,092,400 cars last year and had an operating profit of 3.3 billion euros.
At BMW, the average bonus for the 2010 fiscal year tops the previous high of 5,600 euros given for 2007, which was the year the company sold a record 1.50 million BMW, Mini and Rolls-Royce vehicles. In 2010, BMW sold 1.46 million cars and reported a record net profit of 3.2 billion euros.
Daimler's average payout for 2010 was the second highest given by the company and just a bit below the 3,750 euro bonus for 2007. The 2010 payout rewarded workers for a year when the company's net profit soared to 4.67 billion euros from a loss of 2.64 billion euros in 2009.
BMW did not give a profit-sharing payout in 2008 and 2009 due to the global financial crisis. Daimler withheld the payout in 2009 but gave employees a 500 euro "thank you" bonus for that year. Audi, meanwhile, paid a bonus without interruption. Since 2006, the average annual payout at Audi has been about 4,850 euros. (See box, below)
With all three premium automakers predicting new sales records in 2011, employees who are on the profit-sharing plan will probably be smiling again next year at about this time.