BMW has become the latest company to announce a dramatic decrease in sales in the US market, with the company’s north American boss announcing that BMW USA has stopped shipment of 44,000 cars that were due to cross the Atlantic before the end of the year.
CEO Jim O’ Donnell, previously boss of BMW GB, reportedly took the decision due to the increasing cost of the incentives necessary to keep BMW’s sales figures buoyant in the ‘States.
The weakness of the US dollar against the Euro has reduced BMW’s ability to make profits on American sales.
The news is a major blow for BMW – and proof of the depth of the economic slowdown. BMW sales in American had previously remained strong even as other European premium brands began to suffer.
And with dealers in the UK reporting their slowest September since the ‘5X’ registration plate change was moved to the beginning of the month, the news from this side of the Atlantic is unlikely to get any more cheery.