BMW with a brutal drop in profits until September due to COVID-19

BMW recently revealed this profit fell by 39.8% until September, to 2,177 million euros. With the world still in a pandemic state and with numbers growing on a global scale, brands are revealing the impact of the crisis.

As we have mentioned, the automotive segment was one of those that lost the most and the results are visible to all.

BMW with huge losses in the second half of this year ...
Germany's BMW, which owns the BMW, Mini and Rolls-Royce brands, explained in a statement that it experienced losses in the second quarter due to the COVID-19 pandemic and also said operating profit stood at 2.622 million. euro until September, 48.2% lower than the same period last year, reveals Lusa.
The turnover of the German group from January to September this year was 69,508 million euros, down by 7.1% compared to the same period of the previous year.  Faced with the pandemic, BMW, the automaker stopped production at several plants, albeit in a controlled manner, due to falling global demand and resumed production in the second quarter when it made a profit, highlighted the fact. which had benefited in the third quarter from the regional “strengthening of demand”.


Oliver Zipse, president of BMW, said the multinational achieved good results in the third quarter and this scenario indicates that they are "on track" to reach the targets set for 2020. The manager also explained that BMW has adjusted the its production to the evolution of demand in different regions and is ready to react if conditions change.
BMW expects demand this year will be severely affected in major markets by the new coronavirus pandemic and the measures needed to stop its spread.  The company's scenario is identical to many others in this automotive segment.
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