BMW Reports July 2008 Sales
US sales post modest rise July on strength of MINI
Woodcliff Lake, NJ - August 1, 2008... The BMW Group in the U.S. (BMW and MINI combined) reported July sales of 28,977 vehicles, an increase of 2.2 percent over the 28,364 vehicles sold in July 2007. The BMW Group also reported its year-to-date sales volume of 186,890 vehicles, down 3.0 percent compared to 192,702 vehicles in the same period of 2007.
BMW Brand Sales
Sales of BMW brand vehicles dropped slightly by 1.6 percent to 23,914 compared to 24,295 units in the same month a year ago. Year-to-date BMW brand sales are down 8 percent to 155,427 vehicles, compared to 168,874 vehicles sold in first seven months of 2007.
"While we see the premium segment being affected by the same economic conditions as the mainstream market, there continue to be less dramatic consequences in this segment," said Jim O'Donnell, President of BMW of North America, LLC, commenting on BMW brand sales. "Buyers of our vehicles are still shopping and purchasing but are even more discerning to choose for long-term quality and value. In light of our corporate results announced today, we are going to strengthen our focus on profitability over the next 12 to 18 months by keeping the supply of vehicles in close alignment with demand, which in turn increases our pricing flexibility and brand value. Actions we are already taking include shifting our customer programs in our dealerships to achieve a more equitable balance of retail financing to leasing, further emphasizing the benefits of our four-year free maintenance program, and further developing our Certified Pre-Owned business to aid residual values."
BMW Automobile Sales
BMW's automobile sales are up 0.9 percent in July to 19,261 versus 19,083 in the same month a year ago. Year-to-date sales are down 7.3 percent, to 122,783 automobiles compared to 132,478 in the same period of 2007.
BMW Sports Activity Vehicle Sales
Sales of BMW Sports Activity Vehicles decreased by 10.7 percent in July to 4,653 vehicles versus 5,212 sold last July. Year-to-date, sales of BMW Sports Activity Vehicles are down 10.3 percent, to 32,644 vehicles compared to the 36,396 sold in the first seven months of 2007.
MINI Brand Sales
In July MINI USA reported sales of 5,063 automobiles, a strong increase of 24.4 percent, from the 4,069 cars sold in July 2007. Year-to-date, the division reports sales of 31,463 automobiles, an increase of 32 percent, compared to the 23,828 cars reported in the first seven months of 2007.
"Again this month, we continue to watch a very large movement from larger to smaller vehicles. From the increased traffic in our dealerships, we are seeing desires to downsize but not downscale," said Jim McDowell, Vice-President MINI USA. "Over the last month, our MINI sales have also seen on average $4-5,000 of options in a typical sale. Therefore, at least in the premium end of the small car market, small size is not equating to small dollar sales."
BMW Certified Pre-Owned
Sales of BMW's Certified Pre-Owned vehicles reached its best July ever. Sales are up 11.4 percent, to 7,998 vehicles versus 7,178 vehicles reported last July. Year-to-date, CPO sales are up 21 percent, to 59,984 over the 49,562 reported in the same period in 2007.
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