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BMW has confirmed that it made a loss in the first quarter of 2009, but the German brand claims that the results are better than expected.

BMW reported a net loss of 152 million euros (£135m), compared with a profit of 487 million euros (£431m) in the same period of 2008.

“We have continued our forward-looking finance and cost management strategies with great determination during the opening quarter of the year”, said chief executive Norbert Reithofer.

“In view of the diffi...Read the full article

Apparently part of the reason BMW has suffered is that they were over generous with their leasing deals over the last few years and so are now suffering as people are handing cars back that are worth much less than their Guaranteed Minimum Future Value.

BMW is then stuck with the negative equity of each vehicle, as it has to dispose of them at rock bottom prices.

Where is our fellow forum contributor, the ultimate car industry analyst, "North", when you need him to go on about how BMW are finished, heading to oblivion etc, unlike Mercedes, who have got the perfect strategy to profitability, success, world domination blah blah blah?

This news has gotta be right up his alley. :D

Overdrive:

Where is our fellow forum contributor, the ultimate car industry analyst, "North", when you need him

I've not seen his posts on here for a little while, surely this story had "I TOLD YOU SO" written all over it for him. And I'm sure his ego will swell with pride that you've remembered - maybe he can't post as his computer is in for a full stop button repair?

Calling North, where are you?

Come back wherever you are, "serial full stop man". The Autocar forum just isn't the same without you. Come back!