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The BMW 3 Series is a compact executive car manufactured by the German automaker BMW since May 1975. Successor to the BMW New Class, it has been produced in five different generations and in no less than five different body styles. It is BMW's best selling automobile, accounting for nearly 40% of the company's auto sales in 2005. BMW released its E21 in the wake of the 1973 oil crisis, attracting customers seeking both prestige and economy, nearly doubling BMW's worldwide auto sales figures in three years, and winning numerous automotive world awards and honors. Three decades later, the 3 Series is still the best-selling of its class,[1] as commonplace in Asia, America and Australia as in Europe, and it has even outsold some cheaper models, like Ford Mondeo in the UK.[citation needed] While some argue that the popularity of the car had reduced its prestigious image, the 3 Series still remains the benchmark and its competitors are often judged on how close they come to this car.[citation needed]
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