The BMW Group is well prepared to react swiftly and decisively at all times to new developments during the corona pandemic by systematically identifying potential scenarios. This approach is all the more important given that the BMW Group expects the consequences of the corona pandemic to constrain the operations of the entire automotive industry for quite some time to come. It is also becoming apparent that delivery volumes in key markets are not going to return to normal in the space of just a few weeks. The BMW Group is developing strategies for various scenarios and is prepared to take additional measures to safeguard its financial position and use its underlying strength to steer itself through this challenging phase.
“Quite clearly, the situation remains serious and market forecasts are subject to constraints under these circumstances. We are gradually ramping up our production again according to demand in each market. However, we are monitoring developments extremely closely to be able to respond with maximum flexibility,” said Oliver Zipse, Chairman of the Board of Management of BMW AG, in Munich on Wednesday. “We are keeping a tight rein on inventory levels because liquidity has absolute priority in this situation.”
At the same time, the BMW Group is keenly aware of its responsibility as an employer and as an integral part of society. It promotes the protection and health of its employees and endeavours to strike the best possible balance to ensure the enduring success of the enterprise. The BMW Group is also helping public authorities to procure personal protective equipment, providing vehicles for aid organisations, and has even started producing respiratory masks. Zipse went on to say: “We are doing all we can to leverage our expertise to combat the virus. We are contributing towards protecting public health. At the same time, we are also doing our part to help kick-start the economy and revive public life in a number of countries. Both of these factors are highly relevant and they can only work in unison.”
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SOURCE: BMW Group
