BMW Records First Quarterly Loss Since 2009 on Virus Impact
- Carmaker’s auto division largely to blame for deficit
- Industry had a difficult quarter after showrooms closed
A range of new automobiles stand on display inside a Bayerische Motoren Werke AG showroom in Frankfurt, on Aug. 4.
Photographer: Peter Juelich/BloombergThis article is for subscribers only.
BMW AG’s loss-making automotive division dragged the company into the red for the first time in more than a decade, rounding out a dismal quarter for European carmakers hit by the coronavirus pandemic.
The German manufacturer lost 666 million euros ($787 million) before interest and taxes between April and June, its first quarterly deficit since the financial crisis in 2009.