Global sales at BMW, the world's top premium carmaker, plunged by a quarter in November as even well-heeled consumers kept a tight grip on their wallets amid a sharp economic downturn.
Group vehicle sales fell 25.4 per cent to 96,570 units, led down by a 26.2 per cent drop at the flagship BMW brand, the company said on Friday.
Sales of Mini brand cars also fell 20.8 per cent, while deliveries of luxury Rolls-Royce limousines declined 18.5 per cent. Group sales in the first 11 months of the year fell 1.8 per cent to 1.3 million vehicles.
BMW shares were little changed on the news, trading down 4.8 per cent at €19.655 by 9.03am while the DJ Stoxx European car sector index fell 3.9 per cent.
Car sales across the globe have plummeted as consumers retrench in the face of mass layoffs and a credit crunch.
In Germany, Europe's biggest auto market, new car sales are expected to hit post-reunification lows this year and next before recovering somewhat in 2010, the VDA auto industry association forecast this week.
Reuters