BMW Records First Half Net Loss of $44.6 Million

Publish Date: 
Aug 4, 2009

The OEM says it believes the upturn should begin in the U.S. a little earlier than in other industrialized countries. "Prerequisites for an end to the economic crisis are a return of confidence on the credit markets and an end to the property recession," the company states in its half-year investors report. "In view of the increased proclivity of U.S. consumers to save and the sharp rise in unemployment, the recovery in consumer spending levels is likely to be somewhat sluggish."

BMW plans to continue to pursue its new model initiative throughout the rest of 2009 in an effort to counter reluctant consumer spending caused by the global economic crisis. "Despite these measures, however, motorcycle sales are nevertheless expected to be lower than in the previous year," the OEM said.

—Submitted by Guido Ebert