BMW to switch to quarterly sales reporting

bmw-to-switch-to-quarterly-sales-reporting_60ba7df466c8f
bmw-to-switch-to-quarterly-sales-reporting_60ba7df466c8f

BMW Group is moving to quarterly sales reporting in the United States and globally, joining an expanding roster of automakers seeking to avoid the vagaries of monthly results.

The company said it is making the shift, which affects the BMW and Mini brands, immediately to quarterly sales reporting in Canada and the United States and globally. It will report first-quarter sales in April.

BMW Group remains focused on profitable growth,” a BMW of North America spokesman said in an email Tuesday. “To further emphasize our focus on profitability, BMW Group has made the decision to report all sales and financial figures in alignment across all brands and regions on a quarterly basis, beginning in this financial year.”

BMW took pole position in the 2019 U.S. luxury sales race, fueled by the popularity of its SUVs and crossovers. The automaker beat Mercedes-Benz, which had been on top for three consecutive years. In Canada, BMW trailed only Mercedes-Benz in total sales in 2019.

But the win comes with an asterisk. BMW is being investigated by the U.S. Securities and Exchange Commission on allegations that it engaged in sales punching, or boosting results by having some dealers register vehicles as sold when cars or light trucks are still in inventory.

BMW’s decision to move to quarterly sales reporting is not related to the SEC investigation into BMW’s U.S. sales practices, the BMW spokesman said.

“The decision to move from monthly to quarterly sales reporting was made on the Group level and affects all brands and sales entities around the globe,” he said. “The decision is being announced now to coincide with the new financial year.”    

Written by Auto News

Leave a Reply

bmw-changes-logo-for-digital-age_60ba7ddc2ad1c

BMW changes logo for digital age

bmw-canada-sets-the-stage-in-toronto-real-estate-market_60ba5c75edc38

BMW Canada sets the stage in Toronto real estate market