/ BMW, Industry, News / BMW’s finance boss says Crimean crisis can affect the company’s Russian business

BMW’s finance boss says Crimean crisis can affect the company’s Russian business

Linked In Share
BMW’s finance boss says Crimean crisis can affect the company's Russian business

BMW finance chief said the carmaker’s outlook in Russia, one of its fastest growing markets, could be jeopardized if the crisis between Ukraine and Russia worsens. Even BMW’s CEO Norbert Reithofer urged for a diplomatic solution to the conflict.

An Ukrainian serviceman was killed in Crimea when a Simferopol base of the Ukrainian army came under attack, the first death in the region from a military clash since Russia took control of the peninsula three weeks ago.

Russia was among BMW’s fastest growing markets in 2013, rising 11.8 percent to a record 44,871 vehicles. However, Russia only made up 2 percent of BMW Group’s total sales of 1.96 million units last year.

BMW’s Chief Financial Officer Friedrich Eichiner said the carmaker is aware of potential risks from an escalation of the conflict.

“There are risks in the Russian business. We see risks in currency, the rouble has weakened. So long as the crisis does not escalate then we stick to our guidance. If it does, all our statements about our outlook that we made today need to be questioned,” Eichiner was quoted as saying by Reuters.

The Russian market is one of the most promising for luxury car manufacturers, with BMW’s board member for sales and marketing Ian Robertson saying he sees potential in the country in the longer term.

by Mircea Serafim (my Google+) - Wednesday, March 19th, 2014 - filed under BMW, Industry, News. Image credit: .
Linked In Share
Related Articles
bmw russia Crimea russia russia car sales Ukrainian army


Discuss: BMW’s finance boss says Crimean crisis can affect the company’s Russian business

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

China: Audi agrees to penalty amid antitrust investigation
China: Audi agrees to penalty amid antitrust investigationVolkswagen’s premium unit Audi has moved to 'accept penalty' in China’s ongoing probe of the automotive industry, which ...
FIA to approve Russia GP track next week
FIA to approve Russia GP track next weekAug.13 (GMM/Inautonews.com) In just one week, Russia could get the final green-light for its inaugural grand prix. Amid ...
Tobacco company plays down Lotus rumours
Tobacco company plays down Lotus rumoursAug.13 (GMM/Inautonews.com) Imperial Tobacco has played down reports it is looking to return to formula one with ...
Kobayashi backs sweeping changes at Caterham
Kobayashi backs sweeping changes at CaterhamAug.13 (GMM/Inautonews.com) Kamui Kobayashi has backed the sweeping changes at Caterham, even though it has put his formula one ...
‘Unlikely’ Red Bull can catch Mercedes – Horner
‘Unlikely’ Red Bull can catch Mercedes – HornerAug.13 (GMM/Inautonews.com) Boss Christian Horner has admitted it is "unlikely" Red Bull will catch up with dominant Mercedes in ...
Lotus, Williams swapped F1 fortunes in 2014
Lotus, Williams swapped F1 fortunes in 2014Aug.13 (GMM/Inautonews.com) Even amid his pointless first half-season with Lotus, Pastor Maldonado has signed up with the ...
Another Fittipaldi on path to F1
Another Fittipaldi on path to F1Aug.13 (GMM/Inautonews.com) Max Verstappen, the son of F1 podium-sitter Jos who has joined Red Bull's famous driver programme, ...
Verstappen chooses Red Bull over Mercedes
Verstappen chooses Red Bull over MercedesAug.13 (GMM/Inautonews.com) Red Bull has confirmed reports that highly-rated teenage rookie Max Verstappen has joined the energy ...
Top 10 Ferrari F1 drivers. Pos. 8 Froilan Gonzalez
Top 10 Ferrari F1 drivers. Pos. 8 Froilan GonzalezIn the shadows of Ascari and Fangio lies a giant. With a mobster like allure, powerful as a wrestler and fast as hell, he is the ...
Lexus NX gets 6,500 pre-orders in Japan
Lexus NX gets 6,500 pre-orders in JapanLexus’ newest crossover, the NX, has received no less than 6,500 pre-orders in its home country, Japan. Just a couple of days ...
2015 Volkswagen Touareg launched in Germany
2015 Volkswagen Touareg launched in GermanyThe facelifted version of the Volkswagen Touareg has been recently launched in its homeland, starting in at 52,125 euros for the ...
2015 VW Jetta gets priced in the U.K.
2015 VW Jetta gets priced in the U.K.Volkswagen has announced the official price list for the facelifted version of the Jetta, which is now available for order across ...
Volvo details SPA, to be used on 2015 XC90
Volvo details SPA, to be used on 2015 XC90Volvo has released new details on its SPA (Scalable Product Architecture) which will be used on the next generation of the ...
Recall roundup: Volkswagen Tiguan for fuel bubbles
Recall roundup: Volkswagen Tiguan for fuel bubblesVolkswagen has recently announced a recall for the Tiguan because of a problem in which bubbles may form in winterized fuel, ...
2015 Skoda Superb 4×4 Outdoor Limited Edition launched in Australia
2015 Skoda Superb 4×4 Outdoor Limited Edition launched in AustraliaSkoda has recently introduced the new Superb 4x4 Outdoor Limited Edition in Australia, where the model in question has a price ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

2015 volkswagen touareg 1
2015 volkswagen jetta facelift 1
2015 volvo xc90 1
2015 hyundai i20 1
mclaren 650s sprint 1
2015 Cadillac Escalade Platinum 1
2015 nissan 370z nismo 1
Jaguar_LWE_Build01
jebel-hafeet-mountain-road
dacia duster pickup prototype 1
2015-Nissan-370Z-NISMO-1
renault fluence rs 2

More automotive from inautonews
Volkswagen’s premium unit Audi has moved to 'accept penalty' in China’s ongoing probe of the automotive industry, which centeres on prices of spare parts. China’s National Development and Reform Commission (NDRC) started the investigation after numerous media reports stated that buyers in ...
read more
Inautonews Editors Section
Top 10 Ferrari F1 drivers. Pos. 8 Froilan Gonzalez
Top 10 Ferrari F1 drivers. Pos. 8 Froilan GonzalezIn the shadows of Ascari and Fangio lies a giant. With a mobster like allure, powerful as a wrestler and fast as hell, he is the man who broke the ...
TOP 10 FERRARI F1 DRIVERS 9. JUAN MANUEL FANGIO
TOP 10 FERRARI F1 DRIVERS 9. JUAN MANUEL FANGIOOf course he will be several places higher on any list of all time greats. But not in Ferrari terms. Fangio didn’t care too much for the Scuderia ...
Top 10 Ferrari drivers: 10. Nigel Mansell
Top 10 Ferrari drivers: 10. Nigel MansellThe English bloke won the Italian tifossi through his sheer determination, total attack power and courage. He lacked the charisma, although he was ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety US: safety experts say the NHTSA moves too slowlyRecent developments of the US automotive industry showed that automakers, on occasions, failed to ... Recall roundup: Volkswagen Routan for ignition switch problemsVolkswagen has issued a recall for the Routan because of the ignition switch problems which will be ...
Safety Section