Economic downturn Hits BMW/MINI
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4th Gear
Joined: Feb 2007
Posts: 443
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From: San Antonio, Texas
Economic downturn Hits BMW/MINI
http://www.cnbc.com/id/28065844
Global sales at BMW, the world's top premium carmaker, plunged by a quarter in November as even well-heeled consumers kept a tight grip on their wallets amid a sharp economic downturn.Group vehicle sales fell 25.4 percent to 96,570 units, led down by a 26.2 percent drop at the flagship BMW brand, the company said on Friday.
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Current DateTime: 01:54:50 05 Dec 2008
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Sales of Mini brand cars also fell 20.8 percent, while deliveries of luxury Rolls-Royce limousines declined 18.5 percent.
Group sales in the first 11 months of the year fell 1.8 percent to 1.3 million vehicles.
BMW shares were little changed on the news, trading down 4.8 percent at 19.655 euros by 0903 GMT while the DJ Stoxx European car sector index fell 3.9 percent.
Car sales across the globe have plummeted as consumers retrench in the face of mass layoffs and a credit crunch.
In Germany, Europe's biggest auto market, new car sales are expected to hit post-reunification lows this year and next before recovering somewhat in 2010, the VDA auto industry association forecast this week.
Global sales at BMW, the world's top premium carmaker, plunged by a quarter in November as even well-heeled consumers kept a tight grip on their wallets amid a sharp economic downturn.Group vehicle sales fell 25.4 percent to 96,570 units, led down by a 26.2 percent drop at the flagship BMW brand, the company said on Friday.
RELATED LINKS
Current DateTime: 01:54:50 05 Dec 2008
LinksList Documentid: 28066178
Sales of Mini brand cars also fell 20.8 percent, while deliveries of luxury Rolls-Royce limousines declined 18.5 percent.
Group sales in the first 11 months of the year fell 1.8 percent to 1.3 million vehicles.
BMW shares were little changed on the news, trading down 4.8 percent at 19.655 euros by 0903 GMT while the DJ Stoxx European car sector index fell 3.9 percent.
Car sales across the globe have plummeted as consumers retrench in the face of mass layoffs and a credit crunch.
In Germany, Europe's biggest auto market, new car sales are expected to hit post-reunification lows this year and next before recovering somewhat in 2010, the VDA auto industry association forecast this week.
6th Gear
Joined: May 2007
Posts: 3,790
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From: Kansas City
I saw new Solstice advertised at $5k off MSRP in todays paper, just a few years ago they were selling for $5k over MSRP!
It's interesting that Pontiac can't sell a car like this (and the last "commuter car" effort - the Fiero) in a down economy. They're sporty, fun to drive, get good mileage and aren't that expensive........seems like an easy time for the marketing types, yet I haven't seen a Solstice ad in a year or more....
It's interesting that Pontiac can't sell a car like this (and the last "commuter car" effort - the Fiero) in a down economy. They're sporty, fun to drive, get good mileage and aren't that expensive........seems like an easy time for the marketing types, yet I haven't seen a Solstice ad in a year or more....
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