BMW CEO: Coronavirus Has Had Clear Impact on China Sales
March 03 2020 - 04:23AM
Dow Jones News
By William Boston
BERLIN--BMW CEO Oliver Zipse said Tuesday that the coronavirus
epidemic in China would have a clear impact on sales in China in
the first few months of the year, but that the company saw no
impact on sales in the rest of the world.
Mr. Zipse, speaking to reporters during a telephone conference,
said it was too soon to make any forecast about the impact of the
virus on the full year's sales and earnings.
"We see no impact from the virus outside of China," Mr. Zipse
said. "China suffered a clear impact in February and this will
continue somewhat milder in March. But I wouldn't say that means
there will be no growth for the full year. It's too soon to tell,"
he said.
The association of auto dealers in China said recently that auto
sales in the first two months of the year were down more than 90%
and a decline of up to 80% was expected for the first three months
of the year.
BMW generates nearly a third of its annual vehicle sales in
China.
Write to William Boston at William.Boston@wsj.com.
(END) Dow Jones Newswires
March 03, 2020 04:08 ET (09:08 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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