Posted by: David Kiley on January 12, 2009
Don’t tell BMW’s U.S. Chief James O’Donnell that 2009 is going to be as bad as the 4th quarter of 2008. The Scottish-born optimist says that President Obama’s stimulus package has to pay off for car companies, both domestic and import. It has to!
“Besides the $700 billion TARP money, you have a stimulus package that is going to add another trillion dollars. You can’t have that much stimulus without it having some real positive effect on the car market. If it doesn’t work, Obama’s presidency will be dead. It’s got to work. Look at Global Insight’s forecast of 10.3 million. It’s got to be more than that. It’s got to be.”
BMW gained market share last year in a down market for the auto industry, and the luxury segment. This year, itr is launching a new 7 Series, a new Z4 and a Hybrid X6 into the teeth of a Recession.