Well, this is not something new. We have known for a while that BMW along with the other major european automakers companies have suffered severe financial losses along with a major decrease in sales. But what’s interesting in the article written by Detroit News is that “ 2009 looks dreadful for car sales here, with the possibility that some major players might be taken over or lesser mortals expire completely.”
The European car manufacturers are seeking $6.5 billion in loans spread across all the players, including Ford and GM Europe, Volkswagen, BMW and Mercedes of Germany, Renault and Peugeot-Citroen of France, and Italy’s Fiat. Will these loans be enough to stop the “bleeding” ? Are any of the traditional european brands going to disappear or join larger corporations?
We certainly don’t know at this point since the economical climate seems to be changing at a fast pace, but I encourage you to read the full article, Neil Winton, European columnist for Autos Insider, brings up some good points and relates some interesting information.