BMW has threatened to quit Formula One at the end of 2007 if the sport does not remain attractive to the company.
BMW supplies engines to Williams
BMW board member Burkhard Goeschel made the remarks in response to F1 boss Max Mosley's proposal of a new set of rules for the 2008 season.
"If F1 is going another way which is not congruent with our ideas and values as BMW then we would change to another kind of motorsport," Goeschel said.
BMW has supplied engines to the Williams team since 2000.
Goeschel also expressed BMW's concern at the collapse of talks between five of F1's car manufacturers and Slec, the company founded by F1 boss Bernie Ecclestone which owns the commercial rights to the sport.
GPWC, the company founded by DaimlerChrysler, Ford, Fiat, Renault and BMW to look after their interests, pulled out of negotiations with Slec's owners last week.
Slec is 75% owned by three German banks, with Ecclestone's family trust owning the rest.
Goeschel said he hoped the talks could be restarted and that the GPWC would not have to go ahead with their threat to set up a rival championship in 2008.
"We didn't see any effort from the shareholders of Slec to realise the task they have," he said. "Now we are waiting."
GPWC wants a bigger cut of F1's revenues and more say in the running of the sport.