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Business

BMW sales plunge as crisis hits high-end

Latest update : 2008-12-06

Bavarian luxury carmaker BMW saw their monthly sales drop 25.4% in November. Sales were down 1.8% to 1.3 million units in the first 11 months of the year, confirming the global downturn is also affecting the industry's premium segment.

AFP - The global economic slowdown hit BMW hard in November, figures from the German luxury automaker showed on Friday, with unit sales slumping by more than 25 percent compared to the same period last year.
  
Sales of BMW-brand alone cars fell 26 percent to just under 81,500, the firm said, while Mini sales were down 21 percent at 15,100. It still managed to sell 110 Rolls-Royces, however, down from 135 in November 2007.
  
"Global automotive market demand fell once again in November," BMW board member Ian Robertson said in a statement.
  
"However, 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."
  
For the 11 months to November BMW sold 1.3 million units, down 1.8 percent.
  
A sharp fall in sales, particularly in the United States, prompted the Bavarian automaker last month to scrap its 2008 profit target, lay off thousands of workers and cut output at its factories.

Date created : 2008-12-05

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