the Munich automaker BMW said Thursday that sales of luxury cars in China in April recovered to normal, decolonising level, but other markets, including the United States, will be "very slow" to recover from flash COVID-19.
Earlier this month, BMW has lowered their profit expectations for its automobile and motorcycle divisions, citing weaker-than-expected demand, which will worsen even more in the second quarter.
"a Glimmer of hope comes from China," said Executive Director of the BMW Oliver Zipse in his speech at the annual General meeting of the company, which was first held in a virtual format. "Unfortunately, in other markets while there is nothing like China."
After falling in February to 88%, BMW sales in China rose 14% in April due to pent-up demand in the market, where the ownership of vehicles is relatively low by world standards.
"Pandemic in different extent affected the economy of Europe. The demand for cars in countries such as Spain, Italy and the UK is likely to be very slow to recover. The same applies to the United States," said Zipse.
BMW is gradually ramping up production, and last week restarted its plant in Goodwood, England, factory in Spartanburg, USA, and a plant to assemble motorcycles in Berlin.
this week the BMW resumes production in Dingolfing, Bavaria, and next Monday, the automaker will resume work at its German factories in Munich, Regensburg and Leipzig, as well as enterprises in Oxford, England, Rosline, South Africa and San Luis Potosi in Mexico.
