BMW first-quarter sales slump as coronavirus hits all markets
By BLOOMBERG | 06 April 2020MUNICH: BMW AG’s first-quarter car deliveries sank by about 21% to 477,111 as the Covid-19 pandemic closed showrooms all over the world and idled production lines.
BMW brand car sales in the first three months sank 20.1%, the carmaker said in a statement today. Group sales, which include the MINI and Rolls Royce brands, were down 20.6%.
Carmakers in Europe have closed production lines, hoping the temporary measure will be enough to slow the spread of the coronavirus.
German car companies and the government are discussing how soon plants can be reopened in order to restart the country’s economic engine that employs more than 800,000 people. BMW’s plants are scheduled to operate again from April 20.
“We are responding to the worldwide challenging sales situation due to the corona pandemic and are adapting our production volume flexibly to demand,” BMW’s chief financial officer Pieter Nota said in the statement.
All major markets saw double-digit declines in the quarter, the company said in the statement. China, which dropped the most with 30.9% fewer cars sold, is seeing first signs of a recovery, Nota said.
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