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Bloomberg
BMW ended an upbeat quarter for European automakers by warning that the rapidly resurging coronavirus pandemic could wreck a sales recovery driven by strong demand in China.
BMW confirmed its full-year profit forecast on the back of rising sales in China. Still, the German luxury carmaker cautioned that
Covid-19 is worsening in Europe’s biggest markets, with fresh lockdowns threatening to crimp demand for its automobiles.
“The pandemic is now clearly regaining momentum,†BMW said. If it worsens and drags down the global economy, “the risk exposure could be considerable, particularly on the demand side.â€
Governments across Europe have in recent days restricted public life to contain the spread of the virus, with the UK and France announcing partial lockdowns that will also close car dealerships. BMW’s results round off a surprisingly upbeat quarter for carmakers.