BMW posting worse-than-expected results for 2008

Posted on Sunday, 15 March 2009 , 19:03:00 byEmil

Filed under bmw2008resultsminirollsroyceBMWMiniRolls Royce

BMW posting worse-than-expected results for 2008

Audi posted the record 2008 numbers, but BMW - cross-country rival had a lot more rougher go from its pprevious year. The profits of BMW have declined almost 90 % over the previous year, leading to worse-even-than-expected 2008 financial results.

The U.S. sales of BMW dropped last year by 37 % – equaling a twenty eight -year low – meanwhile sales in Europe trailed off by twenty seven %. The global sales of BMW– including the firm’s Mini and Rolls-Royce brand names – totaled 1,439,918 models last year.

Thanks to the decline of sales, BMW’s revenue now dropped five % in the previous year to 53.2 billion Euro. The German carmaker still posted 330 million Euro profit, but that number is well off the 1.02 billion Euro analysts predicted.

In response for all the collapsing markets up there , BMW initiated a brand new program named ‘Number One’ reducing global prices. Under the all-new plan of BMW reduced the workforce by around 7 % and continues focusing on profits and not than volume in the American market.