BMW, the world’s largest luxury car manufacturer, warned today that it is no longer immune from the global downturn:
‘Business conditions for the automobile industry deteriorated sharply again in the second quarter due to further ongoing steep rises in oil and raw material prices, the weakness of the US dollar, the impact of the international financial crisis and a weaker US economy,’ it told investors.
BMW is now planning to cut costs and reduce production. Both actions will have a major impact on chemical companies’ sales and profit. Most worryingly, BMW Chairman Norbert Reithofer also believes ‘2009 will be another difficult year, full of challenges’.
- Our work
- REPORTS
- The pH ReportMonthly focus on what is driving the global economy
- NewsletterWeekly spotlight on a key issue impacting the global economy
- New Normal eBookBoom, Gloom and the New Normal: How the Western Babyboomers are Changing Demand Patterns, Again
- White PaperA Roadmap for the Global Energy Sector – IEA May 2021 report synopsis
- White PaperRenewable Carbon for Chemicals and Derived Materials – Nova-Institute April 2021 report synopsis
- REPORTS
- About us