BMW August sales down 10%; decline slows

BMW August sales down 10%; decline slows
AP
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First Published: Tue, Sep 08 2009. 02 42 PM IST
Updated: Tue, Sep 08 2009. 02 42 PM IST
Frankfurt: German carmaker BMW AG said Tuesday that its August sales declined 10% as global demand for cars dropped amid the global economic downturn, but it expressed optimism that the downward trend was starting to abate.
The Munich-based company, the world’s biggest luxury carmaker, said it sold 91,790 cars during August compared with 101,679 a year earlier, though the sales decline trend slowed for the fifth consecutive month.
“We are heading in the right direction since April,” Ian Robertson, BMW’s chief of sales and marketing wrote in BMW’s report, saying the company had “regained ground month-on-month.”
“In August the trend continued. I am cautiously optimistic that we will be back on our growth path in the months ahead and will remain the leading international supplier of premium automobiles this year, even though we will not sell as many cars in total in 2009 as in 2008,” Robertson said.
Shares of BMW were down 0.1% to €32.28 ($46.26) in Frankfurt trading.
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First Published: Tue, Sep 08 2009. 02 42 PM IST