BMW 1Q Car Sales Plunged as Coronavirus Hurts Industry in China, Europe, US
April 06 2020 - 3:48AM
Dow Jones News
By Olivia Bugault
The BMW Group said Monday that vehicle sales plunged in its
first quarter as the coronavirus pandemic hit activity in China,
Europe and the U.S.
Its car deliveries-which include premium BMW, MINI and
Rolls-Royce vehicles-dropped 21% to 477,111 in its first quarter,
the group said. Sales at BMW brand fell 20% to 411,809
vehicles.
BMW AG had a good start to the year before the virus started to
hurt its business, it said. "By February, the impact of the
pandemic had already led to a significant decrease in sales in
China," BMW said, adding that "by March, the effects of the
pandemic were clearly visible in sales figures in Europe and the
US." Currently, around 80% of all retail outlets are closed in
Europe and 70% in the U.S. due to the virus, it said.
In China, the group is starting to see signs of recovery with
new orders, said Pieter Nota, member of the management board of BMW
AG and responsible for customer, brands and sales.
"We are reacting to the globally challenging sales situation
caused by the corona pandemic and are flexibly adapting our
production volume to demand," Mr. Nota said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
April 06, 2020 03:33 ET (07:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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