BMW Sales Plunge As Global Recession Hits Affluent Buyers
By Michelle Krebs December 5, 2008BMW sales globally plunged by a 25 percent in November, as the recession spreads worldwide and to affluent car buyers.
The Germany luxury carmaker reported sales of 96,570 vehicles in November, down from 129,459 vehicles in November 2007. BMW-brand sales dropped 25 percent to 81,357 vehicles. Even Mini saw sales drop by 21 percent to 15,103 vehicles.
In response, BMW has slashed output by 65,000 vehicles to better align production with slowing demand.
For the year so far, BMW sales are down 1.8 percent to 1.32 million vehicles.
BMW is not alone among luxury makers. Rolls-Royce saw sales fall 19 percent in November, prompting the British automaker to also cut production.
LEAVE A COMMENT
Rolls-Royce is not a British automaker. It is a German owned "brand" owned by BMW. What was the previous Rolls-Royce automaker was bought by Volkswagen in 1998. Volkswagen got the company, and the Bentley name, but BMW bought the rights to use the Rolls-Royce name. Thus, modern Rolls-Royces are built from BMW's designs.
Confused?
http://en.wikipedia.org/wiki/Rolls-Royce_Motor_Cars#History
ADD A COMMENT