BMW says coronavirus hit China sales but sticks to 2020 global target By Reuters

FRANKFURT (Reuters) – BMW (DE:) on Tuesday said its China sales have taken a hit this year because of the new coronavirus, but stuck to its target for growing passenger car sales for the year, and said its global supply chain has not been disrupted.

“There has been a significant impact in China,” Chief Executive Oliver Zipse told journalists in a conference call.

The slowdown in sales will last until March, and it is too early to make predictions about whether BMW would fail to meet its global sales targets, he said.

“We see no impact outside China. We’re sticking to our target of achieving slight growth in car sales,” Zipse said.

BMW, which has factories in China, the United States and Europe, said its global supply chain had not been disrupted by travel bans and logistics bottlenecks caused by the coronavirus.

“We only have short-term visibility. Supplies have been secured for the next three weeks,” Zipse added.

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