Article: BMW Positive Despite Fall In Profit
Although the German manufacturer’s profits have fallen thanks to this year’s trying economy, the BMW group remain optimistic. Thanks to recent indications of recovery, they are hoping to make a positive turnover by the end of the year across all their brands.
The fall in returns has been blamed on a decrease in consumer spending and has resulted in a loss of 73.8% (down to £70.5 million) with total sales of cars across the BMW group including BMW, Rolls Royce and MINI brands down 15.7% from the year before.
However, the company have instilled countermeasures which they are hoping will amplify efficiency and cut down on unnecessary spending across the group. As Norbert Reithofer, chairman of BMW’s board of management, stated: “The measures we have put in place to increase efficiency and reduce costs are taking effect. We are aiming to achieve positive group earnings for the current financial year.”
Of course this assumption is based entirely on the hope that the worldwide economic situation and the status of the vehicle markets continue their trend of improving rather than worsening before the end of the year.
Website collected information from http://www.varoom-mag.com