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BMW's net profits tumbled nearly 90 per cent in 2008, but bosses have insisted the company is in robust health.

Official figures revealed today show that BMW made 330 million Euros (around £303 million) in 2008.

The 89.5 per cent drop in profits has been put down to 2.4 billion Euros (£2.24bn) of exceptional costs linked to bad debts, personnel costs and provisions to cover risks on used car markets.

BMW's bad news rounds off a pretty stinging day for the car industry, afte...Read the full article

Just wait and see next years!......they will be worse!....as said....they are dodgy.....and getting worse!

North:

Just wait and see next years!......they will be worse!....as said....they are dodgy.....and getting worse!

Will your dodgy full-stop key be worse next year as well?

Dan McNeil:

North:

Just wait and see next years!......they will be worse!....as said....they are dodgy.....and getting worse!

Will your dodgy full-stop key be worse next year as well?

 

Yeah, cos that's truly important.

Ah well- no worries, they got rid of the moron Bangle - thats got to be a good thing- back to attractive cars again I hope.

will they be as bad as the US carmakers who need a bail out from their govt?

that North has a real chip (or full stop) on his shoulder about BMW

 

Kee Law:

will they be as bad as the US carmakers who need a bail out from their govt?

Let's hope not, but like 'The 'Big Three' BMW went mad and pretty much bet the farm on leasing and the US market for much of its growth and profits for shareholders in the last five years or so. Leasing is murdering them as the calculated resale values were pie in the sky - they're writing off billions of dollars to cover this alone. Secondly, going so heavily into the US market, with manufacturing capacity and market leadership of the German prestige three, has left them most exposed to the disaster that is the US car market and US economy generally. Hope this teaches the execs in the '4 cyl' HQ in Munich not to be so in awe of El Dorado in the New World and stick to the knitting closer to home, and thank god that prat Bangle has finally been sacked. See if Walter de Silva has a brother or something.

Hurundi V Bakshi:

Dan McNeil:

North:

Just wait and see next years!......they will be worse!....as said....they are dodgy.....and getting worse!

Will your dodgy full-stop key be worse next year as well?

 

Yeah, cos that's truly important.

Oh no! Hyundai's back!

I've never been a huge fan of BMW's as they seem a little too clinical for me. Yet I love the MINI. If they really want to boost sales, why not take the MINI concept and stretch it into a new range of Triumph's..... I for one would love a new Triumph TR6 (based on the Z4) for the weekend and a Triumph Dolomite Sprite (based on the 1 series) for the week....

I'd never by a BMW, but a Triumph..... Mmmmm

Nothing dodgy about my full stop key.......(see it works)......unless it has escaped your attention, it is the pressing of the key with your finger that makes it work......have a I got a dodgy finger....no!!...thanks for your concern though.

NB; as I said a while ago, I have done the full stop thing for ages and I said I will try and cut down; it works well in some cases.......it can be used to place emphasis on things; maybe that is to subtle for you? maybe you just think it rubbish......could not give a monkeys eitherway (if I am honest)

BMW are going to get hammered (as I have been saying for ages (inc. full stops); this year they are going to get hit again and the trouble is they are in a very old position in terms of product and age of products; the Daimler takeover would solve all that and the longer BMW leave it, the worse it will be for them.

I have no chip on my shoulder over BMW....Ford has not had Gov. funding; BMW lost 90% (I will say it again) 90%......read the facts; Kee Law, I have no chip, its just how things are.....people like you that look short term and fail to see issues, you cling to a brand and fail to see reality......open your eyes and look; there is nothing hard about it............get a grip on reality, open your eyes and look; or maybe you want to immerse yourself in fiction.

Ps; Hurundi...thanks!! and Dan McNeil.....leave him alone....you are not the "Forum" Police and he has as much right as you.......or do you have some other sort of problem?

North:

BMW lost 90% (I will say it again) 90%......

North - your statement here twists the content of the story - as if BMW lost 90% of its value. Rather, BMW Group profits were down 90%, note the term profit. I.e. BMW still made money in 2008 in spite of horrendous conditions and exceptional accounting writedowns (which are very different to accounting losses).

One can't help but look at BMW's balance sheet and think that actually, it's a well managed company in a fine position to secure great profits once the market for new cars picks up again. I also think the Efficient Dynamics strategy, with simple real-world solutions to consumption and emissions is impressive, it's realistic about what people want from a car (not a 2 tonne saloon with a 150 mile range and seats made of hemp).

That said, I don't own one, I personally think they're great machines but they lack charm, which is why I'm a Jag man. With the XF it looks like Jaguar have finally learnt how to make a fully decent 5-series alternative.

well, bmw is playing it down although on their up and coming 5-series, they are changing the aluminium front subframe to steel because production cost for the aluminium unit is too high, i guess too high for that profit margin.

the oil dependent industry, if can be transformed, needs to transform as soon as possible for economy recovery.