BMW sales fall 8.4per cent in 2020 as coronavirus takes toll

BMW sales fall 8.4per cent in 2020 as coronavirus takes toll

BMW said it saw a 8.4per cent drop in vehicles sales in 2020 as the outbreak of coronavirus took its toll and many retail outlets around the world were closed for months.

FILE PHOTO: The headquarters of German luxury carmaker BMW is seen in Munich
FILE PHOTO: The headquarters of German luxury carmaker BMW is seen in Munich, Germany, August 5, 2020. REUTERS/Michael Dalder

BERLIN: BMW said it saw a 8.4per cent drop in vehicles sales in 2020 as the outbreak of coronavirus took its toll and many retail outlets around the world were closed for months.

However, customer demand picked up in the fourth quarter, rising 3.2per cent year-on-year, BMW said on Tuesday.

"We succeeded in concluding the year with a strong fourth quarter and once again we lead the premium segment worldwide," BMW board member Pieter Nota said in a statement.

In total, the Munich-headquartered company sold 2,324,809 vehicles last year. In Europe, 2020 sales were down 15.7per cent and in the United States 18per cent.

In China, where the pandemic started and where it was brought under control faster than elsewhere, 2020 sales bucked the trend and increased 7.4per cent.

(Reporting by Riham Alkousaa, editing by Louise Heavens)

Source: Reuters

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