Interesting. But what does this really mean to us? I mean sure, those numbers are attractive on financial statements but that's about it. It definitely doesn't mean that BMW is necessarily building better cars.
The way I see it is Mercedes' only focus is to be build the best luxury cars, period - and they probably do. I don't think you'll find many who will argue or disagree. They're lack of expansion, while may hurt them with investors, is probably doing a better job in keeping with their business.
As for BMW, you can't argue that they're not market/industry leaders. With that valuation, it's definitely great, but at what cost? We've all read the articles here and you would be blind to see what BMW is doing to move forward but with all this expansion, has it hurt or affected BMW and what their original core business - which is to build sport-orientated cars (Not going to answer that, don't want to start that argument again)?