mika
Still Wondering
BMW US released sales figures for February. The decline continues at a steep trend.
If there is an up side to any of the numbers it is in the Certified Pre Owned sales coming in with an increase of 12.5%. Beyond the obvious that selling anything in this market is good there two other bright points from BMWÔÇÖs perspective. The brand still is interesting to customers. They may be down grading to a used car but they are selling. A bit of a stretch perhaps but you take your bright spots where you can find these days.
The second and perhaps more important thing is many of these vehicles will be from the pool of lease returns. BMW, in the third quarter of 2007 and in its planning for 2008, set aside extra reserves in anticipation of a gap between the market value and residual value contracted for in the lease agreement. The fact the cars are selling at an increased rate means the market is absorbing the returns. However, we donÔÇÖt have any indication of what the gap between market price and residual value exists.
BMW Canada has not released its February figures yet. BMW AG roll up numbers will most likely appear the end of this week.
BMW US
BMW auto brands were down 37.5% in February.
Autos down 32.1%
SUVs down 55.1%
MINI down 17.2%
Y-T-D sales are down 28.5% overall.
The U.S. Division report does not include numbers for Rolls Royce Motorcars or the Motorrad segment.
BMW GROUP U.S. DIVISION REPORTS FEBRUARY SALES
03/03/2009
BMW Group sales in the U.S. (BMW and MINI combined) down by 34.7 percent in February 2009 partially due to model year build outs.
Woodcliff Lake, NJ - March 3, 2009... The BMW Group in the U.S. (BMW and MINI combined) reported February sales of 15,805 vehicles, a decrease of 34.7 percent over the 24,190 vehicles sold in the same month of 2008. The BMW Group also reported a year-to-date sales volume of 30,119 vehicles, down 26.8 percent, compared to 41,125 vehicles in the same period of 2008.
BMW Brand Sales
Sales of BMW brand vehicles decreased 37.5 percent in February for a total of 12,979 compared to 20,775 reported in the same month a year ago. BMW sales have been affected by the model build out of the 7 Series (new model launches this month) and the build out of the Z4 (new model launches in May). Year-to-date BMW brand sales were down 28.5 percent, to 25,211 vehicles compared to 35,250 vehicles sold in the same period a year ago.
"February was another downer for the whole market even though it was filled with compelling buys," said Jim O'Donnell, President of BMW of North America, LLC. "While we assume our sales will be affected by the overall economic environment like others, we're now entering a period of a large number of returning lease customers and it's our challenge and opportunity to put them in a new BMW in the coming months and continue to increase our share of the premium market."
BMW Automobile Sales
BMW's automobile sales are down 32.1 percent in February to 10,776 versus 15,869 in the same month of 2008. Year-to-date sales also decreased 27.7 percent, to 19,473 automobiles compared to 26,922 in the first two months 2008.
BMW Sports Activity Vehicle Sales
Sales of BMW Sports Activity Vehicles decreased 55.1 percent in February to 2,203 vehicles over the 4,906 sold in the same month a year ago. Year-to-date, sales of BMW Sports Activity Vehicles were down 31.1 percent, to 5,738 vehicles compared to 8,328 sold in the same period a year ago.
MINI Brand Sales
MINI USA reported sales of 2,826 automobiles, down 17.2 percent from the 3,415 cars sold in February 2008. The drop from last February was driven mainly by the build out phase of the MINI Convertible. The new model will go on sale in the US at the end of March. Year-to-date, the division reported sales of 4,908 automobiles, a decrease of 16.5 percent, compared to the 5,875 cars reported in the first two months of 2008.
"The economy slowed so much in December and January that MINI felt the pain," said Jim McDowell, Vice-President of MINI USA. "In February however, sales were up 36 percent compared to January '09 and we're now seeing some who had been on the sidelines putting their feet back in the water shopping for cars as evidenced by increasing website traffic and online configurations being sent to dealers."
Table: Sales BMW of North America, LLC, February 2009
Feb. 2009
Feb.
2008
%
YTD
2009
YTD 2008
%
BMW brand
12,979
20,775
-37.5
25,211
35,250
-28.5
BMW passenger cars
10,776
15,869
-32.1
19,473
26,922
-27.7
BMW light trucks
(SAVs)
2,203
4,906
-55.1
5,738
8,328
-31.1
MINI brand
2,826
3,415
-17.2
4,908
5,875
-16.5
TOTAL Group
15,805
24,190
-34.7
30,119
41,125
-26.8
BMW Certified Pre-Owned (CPO)
Sales of BMW's Certified Pre-Owned vehicles are up 12.5 percent, to 9,350 CPO vehicles versus 8,311 vehicles reported last February 2008. Year-to-date, CPO sales are up 23.9 percent, to 19,357 over the 15,624 reported in the same period of 2008.
BMW Group In America
BMW of North America, LLC has been present in the United States since 1975. Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003. The BMW Group in the United States has grown to include marketing, sales, and financial service organizations for the BMW brand of motor vehicles, including motorcycles, the MINI brand, and the Rolls-Royce brand of Motor Cars; DesignworksUSA, a strategic design consultancy in California; a technology office in Silicon Valley and various other operations throughout the country. BMW Manufacturing Co., LLC in South Carolina is part of BMW Group's global manufacturing network and is the exclusive manufacturing plant for all X5 Sports Activity Vehicles and X6 Sports Activity Coupes. The BMW Group sales organization is represented in the U.S. through networks of 338 BMW passenger car centers, 335 BMW Sports Activity Vehicle centers, 142 BMW motorcycle retailers, 83 MINI passenger car dealers, and 30 Rolls-Royce Motor Car dealers. BMW (US) Holding Corp., the BMW Group's sales headquarters for North, Central and South America, is located in Woodcliff Lake, New Jersey.
BMW OF NORTH AMERICA ANNOUNCES CHANGES IN MANAGEMENT TEAM
03/02/2009
Arturo Pineiro appointed to Vice President Central Region. Dan Creed to follow Alan Harris as Vice President Aftersales. Alan Harris appointed to Managing Director of BMW Group's Regional Office Eastern Europe, Africa, and Caribbean.
Woodcliff Lake, NJ - March 2, 2009... BMW of North America, LLC, the U.S. division of the German manufacturer of premium vehicles and motorcycles, today announced new appointments within its sales and aftersales operations to bolster its management team.
Arturo Pineiro will become Vice President of the company's Central Region based in Chicago. In his new function, effective May 1, he will be responsible for sales of BMW and MINI vehicles in 15 Midwestern states. Currently, Pineiro is the CEO of BMW Group Central and South America based in Buenos Aires, a position he has held since January 2008. Prior to that, Pineiro headed the U.S. unit of BMW's Motorcycle business. Pineiro, 43, has been with the company since 1995.
Dan Creed will assume the position of Vice President Aftersales, BMW of North America effective April 1. Currently, Creed is Vice President of the company's Southern Region based in Atlanta, a position he has held since January 2006. Prior to that, he was the Eastern Region Sales and Marketing Manager. Creed, 42, has been with the company since 1996.
Also starting April 1, Alan Harris will assume the position of Managing Director of BMW Group's Regional Office Eastern Europe, Africa, and Caribbean and will be based in Munich, Germany. Currently, Harris is the Vice President Aftersales of BMW of North America, a position he has held since November 2003. In this role, he has been responsible for all service and parts business development for the U.S. Prior to that, Harris was General Manager of BMW Group Australia, LLC, responsible for Sales and Marketing. Harris, 50, has worked for the BMW Group since 1987.
In making the announcement of these changes Jim O'Donnell, President of BMW of North America, LLC said: "With these announcements we continue to strengthen our management ranks with skilled and talented executives with great backgrounds. We are actively engaged in managing our way through the current dynamic changes of the automobile business and I am certain that Alan, Dan and Arturo will help drive the future success of our company."
Creed's successor for the Southern Region will be announced at a later date.
If there is an up side to any of the numbers it is in the Certified Pre Owned sales coming in with an increase of 12.5%. Beyond the obvious that selling anything in this market is good there two other bright points from BMWÔÇÖs perspective. The brand still is interesting to customers. They may be down grading to a used car but they are selling. A bit of a stretch perhaps but you take your bright spots where you can find these days.
The second and perhaps more important thing is many of these vehicles will be from the pool of lease returns. BMW, in the third quarter of 2007 and in its planning for 2008, set aside extra reserves in anticipation of a gap between the market value and residual value contracted for in the lease agreement. The fact the cars are selling at an increased rate means the market is absorbing the returns. However, we donÔÇÖt have any indication of what the gap between market price and residual value exists.
BMW Canada has not released its February figures yet. BMW AG roll up numbers will most likely appear the end of this week.
BMW US
BMW auto brands were down 37.5% in February.
Autos down 32.1%
SUVs down 55.1%
MINI down 17.2%
Y-T-D sales are down 28.5% overall.
The U.S. Division report does not include numbers for Rolls Royce Motorcars or the Motorrad segment.
BMW GROUP U.S. DIVISION REPORTS FEBRUARY SALES
03/03/2009
BMW Group sales in the U.S. (BMW and MINI combined) down by 34.7 percent in February 2009 partially due to model year build outs.
Woodcliff Lake, NJ - March 3, 2009... The BMW Group in the U.S. (BMW and MINI combined) reported February sales of 15,805 vehicles, a decrease of 34.7 percent over the 24,190 vehicles sold in the same month of 2008. The BMW Group also reported a year-to-date sales volume of 30,119 vehicles, down 26.8 percent, compared to 41,125 vehicles in the same period of 2008.
BMW Brand Sales
Sales of BMW brand vehicles decreased 37.5 percent in February for a total of 12,979 compared to 20,775 reported in the same month a year ago. BMW sales have been affected by the model build out of the 7 Series (new model launches this month) and the build out of the Z4 (new model launches in May). Year-to-date BMW brand sales were down 28.5 percent, to 25,211 vehicles compared to 35,250 vehicles sold in the same period a year ago.
"February was another downer for the whole market even though it was filled with compelling buys," said Jim O'Donnell, President of BMW of North America, LLC. "While we assume our sales will be affected by the overall economic environment like others, we're now entering a period of a large number of returning lease customers and it's our challenge and opportunity to put them in a new BMW in the coming months and continue to increase our share of the premium market."
BMW Automobile Sales
BMW's automobile sales are down 32.1 percent in February to 10,776 versus 15,869 in the same month of 2008. Year-to-date sales also decreased 27.7 percent, to 19,473 automobiles compared to 26,922 in the first two months 2008.
BMW Sports Activity Vehicle Sales
Sales of BMW Sports Activity Vehicles decreased 55.1 percent in February to 2,203 vehicles over the 4,906 sold in the same month a year ago. Year-to-date, sales of BMW Sports Activity Vehicles were down 31.1 percent, to 5,738 vehicles compared to 8,328 sold in the same period a year ago.
MINI Brand Sales
MINI USA reported sales of 2,826 automobiles, down 17.2 percent from the 3,415 cars sold in February 2008. The drop from last February was driven mainly by the build out phase of the MINI Convertible. The new model will go on sale in the US at the end of March. Year-to-date, the division reported sales of 4,908 automobiles, a decrease of 16.5 percent, compared to the 5,875 cars reported in the first two months of 2008.
"The economy slowed so much in December and January that MINI felt the pain," said Jim McDowell, Vice-President of MINI USA. "In February however, sales were up 36 percent compared to January '09 and we're now seeing some who had been on the sidelines putting their feet back in the water shopping for cars as evidenced by increasing website traffic and online configurations being sent to dealers."
Table: Sales BMW of North America, LLC, February 2009
Feb. 2009
Feb.
2008
%
YTD
2009
YTD 2008
%
BMW brand
12,979
20,775
-37.5
25,211
35,250
-28.5
BMW passenger cars
10,776
15,869
-32.1
19,473
26,922
-27.7
BMW light trucks
(SAVs)
2,203
4,906
-55.1
5,738
8,328
-31.1
MINI brand
2,826
3,415
-17.2
4,908
5,875
-16.5
TOTAL Group
15,805
24,190
-34.7
30,119
41,125
-26.8
BMW Certified Pre-Owned (CPO)
Sales of BMW's Certified Pre-Owned vehicles are up 12.5 percent, to 9,350 CPO vehicles versus 8,311 vehicles reported last February 2008. Year-to-date, CPO sales are up 23.9 percent, to 19,357 over the 15,624 reported in the same period of 2008.
BMW Group In America
BMW of North America, LLC has been present in the United States since 1975. Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003. The BMW Group in the United States has grown to include marketing, sales, and financial service organizations for the BMW brand of motor vehicles, including motorcycles, the MINI brand, and the Rolls-Royce brand of Motor Cars; DesignworksUSA, a strategic design consultancy in California; a technology office in Silicon Valley and various other operations throughout the country. BMW Manufacturing Co., LLC in South Carolina is part of BMW Group's global manufacturing network and is the exclusive manufacturing plant for all X5 Sports Activity Vehicles and X6 Sports Activity Coupes. The BMW Group sales organization is represented in the U.S. through networks of 338 BMW passenger car centers, 335 BMW Sports Activity Vehicle centers, 142 BMW motorcycle retailers, 83 MINI passenger car dealers, and 30 Rolls-Royce Motor Car dealers. BMW (US) Holding Corp., the BMW Group's sales headquarters for North, Central and South America, is located in Woodcliff Lake, New Jersey.
BMW OF NORTH AMERICA ANNOUNCES CHANGES IN MANAGEMENT TEAM
03/02/2009
Arturo Pineiro appointed to Vice President Central Region. Dan Creed to follow Alan Harris as Vice President Aftersales. Alan Harris appointed to Managing Director of BMW Group's Regional Office Eastern Europe, Africa, and Caribbean.
Woodcliff Lake, NJ - March 2, 2009... BMW of North America, LLC, the U.S. division of the German manufacturer of premium vehicles and motorcycles, today announced new appointments within its sales and aftersales operations to bolster its management team.
Arturo Pineiro will become Vice President of the company's Central Region based in Chicago. In his new function, effective May 1, he will be responsible for sales of BMW and MINI vehicles in 15 Midwestern states. Currently, Pineiro is the CEO of BMW Group Central and South America based in Buenos Aires, a position he has held since January 2008. Prior to that, Pineiro headed the U.S. unit of BMW's Motorcycle business. Pineiro, 43, has been with the company since 1995.
Dan Creed will assume the position of Vice President Aftersales, BMW of North America effective April 1. Currently, Creed is Vice President of the company's Southern Region based in Atlanta, a position he has held since January 2006. Prior to that, he was the Eastern Region Sales and Marketing Manager. Creed, 42, has been with the company since 1996.
Also starting April 1, Alan Harris will assume the position of Managing Director of BMW Group's Regional Office Eastern Europe, Africa, and Caribbean and will be based in Munich, Germany. Currently, Harris is the Vice President Aftersales of BMW of North America, a position he has held since November 2003. In this role, he has been responsible for all service and parts business development for the U.S. Prior to that, Harris was General Manager of BMW Group Australia, LLC, responsible for Sales and Marketing. Harris, 50, has worked for the BMW Group since 1987.
In making the announcement of these changes Jim O'Donnell, President of BMW of North America, LLC said: "With these announcements we continue to strengthen our management ranks with skilled and talented executives with great backgrounds. We are actively engaged in managing our way through the current dynamic changes of the automobile business and I am certain that Alan, Dan and Arturo will help drive the future success of our company."
Creed's successor for the Southern Region will be announced at a later date.
