This is how they keep their hands on the money at BMW

For the time being no extra investments, but cuts at BMW to keep money in the drawer.

The first financial quarter is over. And that means that top companies come together with shareholders to look back and forward. Of course, the situation surrounding the corona crisis predominates. BMW has therefore explained what shareholders and the rest of the world can expect in the coming period.

A major concrete cut has to do with the investments that BMW makes. Dr Nicolas Peter, member of the board of the BMW Group, says that the group invested € 5.7 billion in 2019. That picture looks very different for 2020. Investments for this year will be less than EUR 4 billion.

This means that projects will be delayed. One of those projects is the construction of a new factory in Hungary. Construction of that new factory will no longer happen this year. For the cuts of other projects goes BMW still see what to do. Further details have not been announced for which other projects exactly.

In a further note, Peter states that global sales of the BMW Group fell by a third in the first quarter. Chinese sales had the greatest impact. Corona measures already started here in February. The European corona measures will mainly have an effect on the results in this second quarter. The BMW Group delivered 477,000 cars in the first quarter of this year. That is a decrease of 20.6 percent compared to the same period in 2019.

Reactions

  1. willeme says

    Sometimes you wonder if this isn’t going too far, all those jokes. Recently I was at the BMW dealer, where a salesman dressed as a comedian told that the 1 Series had front-wheel drive and the 418i had a three-cylinder engine. That was a joke, of course, but still. Of course it is not possible.

    1+
    • mpgc says

      @willeme: the worst is when you wake up and it turned out not to have been a nightmare.

    • maximfabian says

      @willeme: strangely enough, the best man was right in one of the two cases.

        • maximfabian says

          @ keeper1: no, the 318i is now an “old-fashioned” four-cylinder. This is in contrast to the 118i and 218i, where this is the 3 cylinder that was also in the F30 318i.

          • willeme says

            @maximfabian: correct, that’s why I made 418i instead of 318i 😉

    • shibby says

      @willeme: and the joke is also that the 318i is not even disappointing …

      • Wouter says

        @shibby: you can only 100 in the Netherlands.

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