BMW Group on track to deliver on 2020 targets
In a year in which many companies have had to change their expectations on the run and learn to be content, BMW Group instead, it maintains the same objectives for 2020 of January. There quick and effective response to lockdown allows the group not to retreat and continue to do well.
BMW Group maintains 2020 targets
BMW Group had to act quickly in March by implementing the controlled reduction of production in many of its factories. Not only to implement the necessary health measures but also to meet the foreseeable drop in demand of cars around the world.
Since mid-June, however, the BMW Group has reopened all its production plants with regular shifts, to return to pursuing their ambitious goals. Oliver ZipseChairman of the Board of Management of BMW AG stated that “Our speed of response and consistent management strategy have enabled us to limit the impact of the coronavirus pandemic on the BMW Group during the first half of the year.”
Now the company wants to recover in the best way, strong of the 498 million euros of positive gross of taxes for the first half of the year. For the second part of the year, they aim for a “EBIT margin between 0 and 3% for the Automotive segment in 2020 ″.
To do this, the company has no intention of backing down on its commitments: major technological investments, with 30 billion euros in research and development until 2025. This is possible thanks to the optimization of expenses, down by 32.1% this year thanks to rapid and targeted interventions. With a view to innovation, the BMW Group also aims to maintain its CO2 emissions reduction targets, aiming to put on the road beyond 7 million electrified vehicles within the next 10 years.
The first six months of 2020 were tough. But the BMW Group gritted its teeth and operated with intelligence. Now aim for one recovery in the second half of the year.