Although BMW has barely benefited from Europe’s scrappage incentives which have mainly boosted small car sales, the firm is expected by some analysts to post improved third quarter financial results tomorrow (November 3rd).
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Sabine Blümel, an analyst with Creative Global Investments (LLC), told just-auto that BMW’s sales performance should have reached a low-point in mid-2009.
“We estimate that BMW ramped up production by 7% in the third quarter versus the second in order to rebuild depleted inventories and prepare the launch of new products in 4Q09, namely the 5 GT and X1,” she said.
She also said that she expects a BMW group EBIT of EUR231m in the third quarter.
She pointed out that BMW’s management has so far has refrained from quantifying its FY09 guidance but is confident that it can generate a profit if FY09 sales decline by 10-15%.
“This looks achievable, in view of management’s forecast of a marginal increase in Q4 unit sales that limits the full year 09 decline to 12%,” she says.
