Among all the bad news about the enormous economic consequences of the corona virus for car manufacturers, there is also a small boost. BMW recorded better figures in the first quarter of 2020 than in the same period last year. However, it does have an important side note.
While car manufacturers put their initial expectations for 2020 into bulky waste and take the first hard blows, BMW comes with a strikingly positive message. For Q1 2020, more has lingered than in the same period last year. Before tax, the BMW Group posted a profit of € 798 million, compared to € 762 million last year, a growth of 4.7 percent. That despite a sales decrease of no less than 20.6 percent compared to Q1 in 2019.
The improvement compared to last year was largely due to the fact that an advance of € 1.4 billion was made in the first quarter last year. For the rest of the year, BMW therefore expects the effects of the corona crisis to resonate more strongly in the figures. “A quick recovery now seems unlikely. In the revised outlook, the BMW Group is now anticipating a stabilization during the third quarter,” said the manufacturer. BMW Group now accounts for 0 to 3 percent revenue growth (EBIT) for the year in its automotive industry.
Rolls-Royce in particular has been hit hard this year. That saw sales fall by no less than 27.2 percent. 853 British luxury brand cars were sold compared to 1,172 last year. At Mini the decrease was 23.4 percent, that brand still sold 64,449 cars. BMW itself sold 411,809 vehicles, 20.1 percent less than last year.