BMW Ready For Ruble Collapse Impact
BMW, one of the few carmakers that discloses its ruble exposure, may lose USD123 million to USD185 million in earnings in the fourth quarter if the ruble loses half its value. Daimler, Volkswagen, Renault and Hyundai Motor Co. probably face an even larger impact. To reduce its Russia-related risks, BMW began reallocating cars to more attractive markets in early summer.
The world’s largest maker of luxury vehicles sold 33,465 BMW and Mini cars in Russia through November, a 17% decrease from last year. Industry wide auto sales have fallen 12% in the first 11 months of 2014. Volkswagen said it is still selling cars in Russia but is watching the market with concern.
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