The global recession has been tough going for most and none more so than the car industry. Whereas motorists have almost always taken for granted the ease of trading in their used cars, now more impressive upgrade companies have cut back on dishing out company cars to their employers to save some money.
Figures released recently show that Germany’s premium car giant BMW has struggled more than most, confirming that its profits fell by 36% last year alone. But don’t shed a tear just yet as a sweet profit of $286m was still made. BMW chief Norbert Reithofer comments on the news, stating that it looks like the worse is behind them; ‘Our new models will provide us with a tailwind over the course of the year. We fully intend to remain the world's leading provider of premium cars in 2010 and plan to increase sales within the single digit percentage range to over 1.3 million vehicles.’
Of course this news won't affect you if you're wish to own a BMW was only ever a dream.