Good morning Ladies and Gentlemen!
In times like these, we need responsible behaviour in society. We find ourselves in highly unusual times. All of us are personally affected. Medical experts and scientists are giving clear directions as to what we need to do to slow and contain the spread of the coronavirus pandemic. The next few weeks will be critical. Many countries have taken significant measures, which we support.
In this situation, as a company we have diverse responsibilities:
- To protect our employees and their families as best we can.
- To support our society in its fight against the virus.
- And at the same time, to maintain our operational capabilities and prepare for what comes “after the virus”.
We have made far-reaching decisions that affect our daily business. Many people are focusing on their health and well-being and what is most essential right now. In light of this, we have already temporarily closed the first dealerships in Europe. Demand for cars, like many other goods, will decrease significantly.
Our production is geared towards sales development forecasts – and we are adjusting our production volumes flexibly in line with demand. Since yesterday: We began to shut down our European and Rosslyn automotive plants, which will close by the end of the week. The interruption of production for the mentioned plants is currently planned to run until April 19.
The BMW Group has highly flexible and effective work time instruments. This applies to both direct areas, like production, and also in indirect areas, such as administration. Now, we will reap the benefits of this. We will continue to ensure our ability to operate as a company. At the same time, we want to reduce the risk of infection for our employees. We have therefore put a comprehensive package of measures into effect. For example, employees will be able to work from home, when it is possible and when it makes sense. I would like to thank our social partners, that we were able to find solutions quickly in true BMW tradition. And I would also like to thank all employees for helping us to get through this situation.
Thank you also to our purchasing and logistics experts and partners for their flexibility. And of course I would like to thank our Corona competence team.
The BMW Group knows how to manage difficult situations. We have proven this many times in the past:
- We opened our plant in Dingolfing in the early 70s, in the midst of the oil crisis. Next year, our new technology flagship, the iNEXT, will roll off its production line in 2021.
- During the 2008/2009 global economic and financial crisis, we earned a profit and got the first all-round sustainable electric production vehicle off the ground. Today, the BMW i3 is one of the world’s best-selling electric cars.
Even in the current situation, we remain confident. There will be a time during the coronavirus. And there will be a time after the coronavirus. That is why we have decided, today, to give you an outlook of everything we have planned.
The current situation requires a strong joint effort. But we are strong – and we will fight this fight together. That’s all I wish to say for the time being.
Now, Nicolas Peter will present the figures for the financial year 2019, as well as our forecast for the current year 2020, which we have adjusted at short notice to the current situation.
Please click here to view the full press release.
SOURCE: BMW Group
