this is bad for BMW b/c the number of car companies decrease. this will put a lot of pressure for manufacturers to merge to contain costs and manuever through this financial crisis. as one of the only few independent car companies left, for the most part, BMW has stay true to its roots.
also, if more car companies start to go bankrupt, people will buy even less cars (as if sales arent already down). this further erodes the overall infrastructure that people talked about above.
unfortunately, it wouldnt surprise me at all if eventually BMW were to merge with Mercedes or Audi in order to survive; that will be a SAD day