2023-11-27 BMW Worried about Possible Ukraine Crisis Consequences - autoevolution

BMW Worried about Possible Ukraine Crisis Consequences

The potential spark that would fire up World War 3 has been making worldwide headlines for weeks now. Ever since Russia moved its army in the Crimean peninsula, the world has been uneasy, the EU, NATO and Russian Federation flexing their muscles in what could possibly be another Cold War.
BMW X5 M in Russia 1 photo
Photo: Smotra.ru
The already confirmed diplomatic and economical measures enforced by the EU could be problematic for the big European manufacturers, BMW included.

In a recent interview, the Germans’ Finance Chief, Friedrich Eichiner expressed his concerns over the escalating tensions in the region and the conflict between the West and the East.

“There are risks in the Russian business. We see risks in currency, the rouble has weakened. So long as the crisis does not escalate then we stick to our guidance. If it does, all our statements about our outlook that we made today need to be questioned,” Eichiner said.

Russia started climbing in BMW business lately, last year buying a record 44,871 units and posting a double digit growth of 11.8 percent overall. Even so, compared to other markets, it’s still accounting for far too little to seriously cause any damage to Bavarian profits.

Last year, BMW’s Sales and Marketing boss, Ian Robertson, said that the Russian Federation has great potential on the long run and that sales might pick-up even further. However, recent developments proved that it might be risky to invest in such a volatile environment.

Via: Inautonews
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