January’s Car Maker in Focus in the Car Makers Premier League BMW have warned that they could lose money if the current global sales downturn continues for the rest of in the year.
Group CEO Norbert Reithofer said “For 2009, the largest risk is the collapsing market. If revenues fall more than 20 percent, you lose money,” Reithofer told the company’s annual earnings news conference here.
BMW declined to give any earning outlook for the full year or the first quarter, but said it expects global auto sales to decline between 10 percent and 20 percent.
BMW group’s January and February sales declined 24.3 percent to 150,838 units, typically such a decline causes a carmaker’s revenues to decline by a similar percentage.
BMW reports sales volumes on a monthly basis, but revenues on a quarterly basis only. First-quarter results will be announced May 6.
Source: Automotive News
Subscribe to Motor Trade Insider by Email