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BMW sales dip more than a quarter BMW sales dip more than a quarter
(2 days later)
German carmaker BMW has seen its global monthly sales fall by more than a quarter, as consumers tighten their belts amid the economic slowdown.German carmaker BMW has seen its global monthly sales fall by more than a quarter, as consumers tighten their belts amid the economic slowdown.
BMW brand sales fell 26.2% in November from the same month a year ago, said the firm, while sales of its UK-based Mini subsidiary declined 20.8%.BMW brand sales fell 26.2% in November from the same month a year ago, said the firm, while sales of its UK-based Mini subsidiary declined 20.8%.
The firm has already said its Mini plant in Oxford will close on Friday for an extended Christmas shutdown.The firm has already said its Mini plant in Oxford will close on Friday for an extended Christmas shutdown.
It is closing the factory for four weeks instead of the usual two.It is closing the factory for four weeks instead of the usual two.
November sales at BMW's luxury Rolls-Royce arm were down 18.5%.November sales at BMW's luxury Rolls-Royce arm were down 18.5%.
For the whole BMW group, sales fell 25.4% to 96,570 in November, compared with a much slower decrease of 8.3% to 113,005 in October.For the whole BMW group, sales fell 25.4% to 96,570 in November, compared with a much slower decrease of 8.3% to 113,005 in October.
Profit fallProfit fall
"During the period to the end of November the BMW group performed better than the overall premium segment, and has increased its market share in the segment," said BMW board member Ian Robertson."During the period to the end of November the BMW group performed better than the overall premium segment, and has increased its market share in the segment," said BMW board member Ian Robertson.
I don't want to tell my children that I've just lost my job Worker at the Mini factory Final day for Mini agency staff in the UKI don't want to tell my children that I've just lost my job Worker at the Mini factory Final day for Mini agency staff in the UK
Last month BMW reported a sharp fall in profits and said it could not provide a forecast for 2008 and beyond because of the uncertain economic climate. Last month BMW reported a sharp fall in its profits and said it could not provide a forecast for 2008 and beyond because of the uncertain economic climate.
The German firm said net profit fell 63% for the three months to September to 298m euros ($375.5m; £236.5m).The German firm said net profit fell 63% for the three months to September to 298m euros ($375.5m; £236.5m).
During the quarter, sales dropped 9% to 12.6bn euros, from 14bn euros in the same three month period a year earlier.During the quarter, sales dropped 9% to 12.6bn euros, from 14bn euros in the same three month period a year earlier.
Almost all of the world's carmakers have seen sales fall sharply since the summer, and Detroit's "Big Three" firms - General Motors, Ford and Chrysler - have asked the US government for $34bn (£23bn; 26.6bn euros) in emergency loans.Almost all of the world's carmakers have seen sales fall sharply since the summer, and Detroit's "Big Three" firms - General Motors, Ford and Chrysler - have asked the US government for $34bn (£23bn; 26.6bn euros) in emergency loans.