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Old 4th November 2008, 23:42   #1
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Default BMW profits tumble 63%

Only expected with the global economy plumetting. BMWs profits sunk a whopping 63% for the quarter ending in September. Sales down 9%, severely hit in their largest market - The States and plans are afoot to temporarily shut a plant down. BMW isn't even willing to make any sales predictions for the future, so jittery is the market. Expect them to work even harder in emerging markets like India.

On a related note, the North-American sales of Porsche fell 39% Y-O-Y!! Few people are buying luxury cars....even those who have the money.

Source : BBC
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Old 5th November 2008, 00:43   #2
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The effects of the global crunch are obviously most felt by those manufacturers that are almost completely dependent on the premium end of the market like BMW.

Porsche sales may have fallen 39% YOY, but they've bought VW so they will hope to spread the blow. I wonder how the Kuwaiti VCs that took over Aston Martin feel like now, and closer home I wonder how RT will feel when the bad news starts to trickle in from JLR.
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Old 5th November 2008, 01:10   #3
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Quote:
Originally Posted by Steeroid View Post
..I wonder how RT will feel when the bad news starts to trickle in from JLR.
Not ecstatic I'm sure, seeing as how Tata Motor's shares plunged to around Rs 140/share recently based on reports of the company not being in good financial shape as-is in India.

Last edited by theMAG : 5th November 2008 at 01:11.
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Old 5th November 2008, 02:31   #4
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I wonder how RT will feel when the bad news starts to trickle in from JLR.
Me thinks he'd have waited for a couple of months to pick up JLR. Under the present economic conditions, Tata would have gotten a steal of a deal compared to what he paid just a little time back!!
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Old 5th November 2008, 05:06   #5
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I recently read this article on Merc sales in the country on HT Business "What slowdown? Mercedes is on a roll in India.

Merc, Audi and BMW are the most-sought luxury cars in India, with sales of 3,141 units in the first 10 months (January-October 2008), a 46 per cent rise from the corresponding period in 2007 (2,141 units)."

India will become a key market for the luxury marquee's and hope it does some good with respect to the options available in the country as well as rationalize the prices too
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Old 5th November 2008, 08:57   #6
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i amnot sure about that cause the numbers sold in india are still not great in anyway to support bmw,(like US) but yes any number is good for germans

besides the europeans are working very hard to capure the global market the fault only lies in high pricing
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Old 5th November 2008, 10:01   #7
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Mercedes are now reaping the benefits of the SMART car, I dare say that their sales are down but they have better margins
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