BMW has said that its 2009 sales revenues slipped by 4.7% as the recession hit demand for premium cars. Vehicle sales for the BMW Group were down 10.4% to 1.436m units, with revenues for the automotive division down 10.3%.
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However the firm said that it is confident that it will be able to post a pre-tax profit for 2009 when it reveals full results in March. It also expects to grow sales volume in 2010.
“We are confident that the BMW Group will, as planned, be able to post a profit before tax for 2009. This demonstrates that rigorous cost management and other wide-ranging measures to improve profitability in conjunction with our Strategy Number ONE are taking effect,“ said Norbert Reithofer, BMW board chairman.
BMW said that the worldwide financial and economic crisis will continue to have an impact on the automobile industry during the current year. However, it expects to grow profitably due to new models an expected gradual global economic recovery in 2010.
“The BMW Group can start the new year with a certain amount of optimism. New models will provide tailwind over the course of the year. We fully intend to remain the world’s leading provider of premium vehicles in 2010 and plan to increase sales within the single digit percentage range to over 1.3 million units,“ added Reithofer.
BMW highlighted the new BMW 5 Series as an important development for 2010. It will come onto the market at the end of March, providing further momentum from the beginning of the second quarter. It said the new BMW X1 and BMW 5 Series Gran Turismo models – both of which were launched at the end of 2009 – will similarly have a positive impact on the sales volume performance in 2010.
And the Mini Countryman will also be introduced onto the markets during the current year, BMW said.
A total of 1,068,770 BMW brand cars (2008: 1,202,239 units -11.1%) were sold in 2009.
The Mini brand recorded a worldwide sales volume of 216,538 units in 2009 (2008: 232,425 units -6.8%). Rolls-Royce sold 1,002 motor cars (2008: 1,212 units -17.3%) during the year.
BMW said group sales grew strongly in 2009 in the emerging markets of China (90,536 units +37.5%), Brazil (6,398 units +118.8%) and India (3,619 units +24.4%), achieving new sales volume records in all three markets.
“We plan to achieve sales volume growth again in China, Brazil and India in the current year ,“ Reithofer said.
Germany was the largest single market for the BMW Group in 2009 for BMW and Mini brand cars, with a total of 258,012 units (2008: 284,786 units -9.4%) sold.
But sales in the US were down by a fifth. The BMW Group sold 241,727 vehicles (2008: 303,190 units -20.3%) in the USA during 2009.
BMW said that the weak state of the global economy also ‘cast its shadow over financial services business in 2009’, with the volume of new retail customer contracts dropping by 15.8% to EUR24,709m.
