BMW Group, as with other automotive groups, operates now in an emergency mode. The company said that the main focus in on flexibility and solidarity, to protect employees and safeguard liquidity.
As most of the retail outlets were closed (80% in Europe and 70% in the U.S.), the first-quarter results bring an expected sales decline. The German manufacturer reports 476,258 sales of BMW and MINI, which is 20.6% less than a year ago.
The sales of plug-in electric cars were growing noticeably, which allowed closing the quarter with 13.9% increase year-over-year to 30,692.
BMW and MINI plug-in car sales worldwide – Q1 2020
Against all odds, the first quarter was the best ever.
Because of the overall decline, the plug-in share in the total volume improved to over 6.4%. It's not a record, but the 2nd best level and much better than 4.5% a year ago.
An important positive is that at least in China BMW saw "the first signs of recovery". Hopefully, China will continue to recover, we are eagerly awaiting the first signs of recovery in the rest of the world.
Pieter Nota, member of the Board of Management of BMW AG responsible for Customer, Brands and Sales said:
“We are reacting to the globally challenging sales situation caused by the corona pandemic and are flexibly adapting our production volume to demand. In this way, we are creating important conditions for the company's continued economic success. In China, we are seeing the first signs of recovery with a strong order intake,”