Hyperdrive
BMW Sees Potential Risk From More Lockdowns in China Next Year
- CEO says no visibility on a lockdown solution in China
- BMW global sales expected at similar level next year
The BMW facility in Shenyang.
Source: STR/AFP/Getty Images
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BMW AG sees further Covid-related lockdowns in China as a risk for next year, despite healthy demand there for the carmaker’s fully-electric models and expectations of stable global sales.
“In China, lockdowns are currently increasing, not decreasing,” Chief Executive Officer Oliver Zipse said to reporters at an event on Friday. “I am worried about how we get out of the lockdown situation in future quarters. There is no visibility that China has a solution.”