BMW's sales have slumped in 2022 due to supply chain issues and the scrapped zero-Covid policy in China.

A byproduct of the pandemic, supply chain issues such as chip shortages and higher raw material costs were magnified by Beijing's decision to implement severe lockdown measures for the good part of last year.

The German automotive giant delivered 2.4m cars over the past 12 months, 4.8 per cent down on 2021 levels. Sales for the BMW brand dropped 5.1 per cent to 2.1m units.

Sales levels were affected in the first six months of 2022, but picked up pace in the second half.

Over the last quarter, the group reported a 10.6 per cent increase in sales, as more than 650,000 cars were delivered to customers.

Despite the impact of Covid-19 in China - as well as the war in Ukraine - BMW has remained optimistic. "Our strong product line-up is the best response to the current environment," said BMW board member Pieter Nota.

(c) 2023 City A.M., source Newspaper