BMW Expects Chinese Market to Normalize After Dealerships Reopen
March 19 2020 - 08:42AM
Dow Jones News
By Jessica Sier
BMW AG expects the Chinese market to normalize in April after
dealerships reopen, and sees China as a blueprint indicating how
the coronavirus could affect Europe and the U.S., the German car
maker said on Thursday.
Chinese production volumes in March are around 60%, said the
company, but as Chinese factories and dealerships come back online
the maker of luxury vehicles is working on the assumption that
demand will return to normal.
"As dealerships in China reopen we expect to return to a place
where demand is fairly stable," Chief Executive Oliver Zipse said
during an analyst call. "When dealerships reopen, demand looks like
it will continue as before."
BMW has suspended production in its plants across Europe, but
the company said it would not request a postponement of CO2
fleet-emissions targets.
"We all must work to lower emissions, even in a world with
coronavirus," said Mr. Zipse.
"There is no need for us to change our commitments because we
have the right processes and the right cars to meet them. There
will be a world after the coronavirus."
Write to Jessica Sier at jessica.sier@wsj.com
(END) Dow Jones Newswires
March 19, 2020 08:27 ET (12:27 GMT)
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