BMW is shutting down its production due to the coronavirus pandemic and expects a significant drop in sales and profits in the current year. “The BMW Group is countering the foreseeable development in demand on the global automotive markets by adjusting its production at an early stage,” the carmaker announced on Wednesday.
BMW had already presented key figures from the previous year in the previous week. The group dampened the 29 percent drop in profits to five billion euros thanks to growth in the second half of the year. Other auto companies such as Volkswagen and Daimler interrupt a large part of their production in Europe because of the coronavirus pandemic.