BMW CEO: Coronavirus Has Had Clear Impact on China Sales

   By William Boston 
 

BERLIN--BMW CEO Oliver Zipse said Tuesday that the coronavirus epidemic in China would have a clear impact on sales in China in the first few months of the year, but that the company saw no impact on sales in the rest of the world.

Mr. Zipse, speaking to reporters during a telephone conference, said it was too soon to make any forecast about the impact of the virus on the full year's sales and earnings.

"We see no impact from the virus outside of China," Mr. Zipse said. "China suffered a clear impact in February and this will continue somewhat milder in March. But I wouldn't say that means there will be no growth for the full year. It's too soon to tell," he said.

The association of auto dealers in China said recently that auto sales in the first two months of the year were down more than 90% and a decline of up to 80% was expected for the first three months of the year.

BMW generates nearly a third of its annual vehicle sales in China.

Write to William Boston at [e-mail].

(END) Dow Jones Newswires

March 03, 2020 04:08 ET (09:08 GMT)

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