Quote:
Originally Posted by Patton250
Quote:
Originally Posted by Artemis
I see your point, but IMHO the situation is more balanced.
Obviously, the BMW Group Quarterly Statement - Sep 30, 2021 (released on Nov 3, 2021 - see here) reported about "ongoing supply bottlenecks, especially for semiconductor components" causing "production volume shortfalls", "reduced vehicle production", "lower sales volumes", "the downturn in automobile deliveries" and "a significant reduction in vehicle inventories held by dealerships" during 2021 Q3.
But BMW seems to qualify the magnitude as considerable for 2021 Q3 (and expects adverse effects to continue in the near future), rather than "massive" throughout 2021: "Despite the global challenges posed by semiconductor component supply bottlenecks, the BMW Group saw increasing sales volumes throughout the period under report [Jan-Sep 2021]. In total, 1,932,224 BMW, MINI and Rolls-Royce brand vehicles were delivered to customers, with nine-month sales rising sharply by 18.0 % (2020: 1,638,167 units). Growth was recorded for all Group brands across all regions worldwide. As expected, the global shortage of semiconductor components caused sales to drop significantly in the third quarter to 593,177 units, well down on the corresponding figure one year earlier (2020: 675,592; –12.2 %).
The increasing scope of electrification within the BMW Group's model range and continued strong demand for electrified vehicles meant that delivery figures almost doubled during the first nine months of the year. Between January and September 2021, 231,575 all-electric and plug-in hybrid vehicles were delivered to customers (2020: 116,400 units; +98.9 %). Sales of all-electric vehicles grew particularly dynamically, rising by 121.4 % to 59,688 units for the nine-month period."
"In the third quarter 2021, operations were increasingly impacted by supply bottlenecks for semiconductor components. Although this resulted in production volume shortfalls and lower sales volumes during the period from July to September 2021, the impact was more than offset by positive price effects for new and pre-owned vehicles.
Revenues rose to € 82,831 million (2020: € 69,508 million; +19.2 %; adjusted for currency factors: + 20.5 %) for the nine-month period and to € 27,471 million (2020: € 26,283 million; +4.5 %; adjusted for currency factors: +3.5 %) for the third quarter, in both cases higher than one year earlier.
Key factors influencing the development of revenues during the first nine months of the year were improved selling prices and higher sales volumes, driven, among other things, by higher demand for individual mobility in the wake of the pandemic and the impact of reduced global availability of vehicles due to semiconductor supply shortages. At the same time, pre-owned vehicle markets also benefited from the semiconductor shortage."
"The benefits of higher selling prices and improved residual values described above were sufficient to compensate for the mounting production volume shortfalls caused by semiconductor supply bottlenecks and the related impact on unit sales in the third quarter."
"The dealership financing line of business was affected by a significant reduction in vehicle inventories held by dealerships at the end of the third quarter 2021. This development resulted from the impact of reduced vehicle production, particularly in the third quarter, as a consequence of the semiconductor supply bottleneck on the one hand as well as strong demand for new and pre-owned vehicles on the other. As a consequence, total volume of dealership financing fell by 22.9 % to € 12,524 million (31 December 2020: € 16,241 million)."
"The supply bottlenecks currently occurring on international semiconductor markets do not yet show any signs of easing. Ongoing high demand in combination with limited capacities along the supply chain mean that semiconductor supplies are likely to remain tense. This situation has implications for the BMW Group, as the risk of bottlenecks in the supply of semiconductor components could result in further production volume shortfalls. [...] Due to high demand on international semiconductor markets, temporary bottlenecks in the supply of electronic components have also meanwhile arisen for the BMW Group. Further adjustments to the production schedule could arise during the remainder of the year due to the ongoing supply issues. The BMW Group is monitoring the situation very closely, assessing developments on a continual basis and ensuring that supply chains and production plants are working together as smoothly as possible. Despite these efforts, temporary bottlenecks cannot be entirely ruled out."
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They tried to sugarcoat it but everything they said pretty much goes along with what I've been saying. Actually it looks worse than what I've been saying. It's not looking good at all. I imagine most auto manufacturers are going through the same things. Hopefully 2023 things will get back to normal. |
BMW just stated that Jan-sept 2021 production/sales rose by 18% from 2020… All BMW groups have reported increased sales in that period.
It's in the 3rd and 4th quarter that production has been/will be aversely affected. With sales down 12,2% for the 3rd quarter (but still up by 18% in total for the 1st-3rd quarter).
How is that even worse than what you have said with regards to massive production delays?
And in my previous posts the sources I linked to said that other German manufacturers had been much harder hit than BMW by the chip shortage.