Saturday, February 28, 2009

Your Days are Numbered

Just when I thought Munich would show no signs of slowdown because of the economic crisis, I’m starting to see weakness all around. For a long time, the only damaged franchise in Munich was Hypo Real Estate (part of the German $50 Billion bailout plan), but now the economic crisis is starting to hit Munich’s premier brand – BMW. I’ve tried to find sales figures of BMW cars with little success. But today, Automag Buchner, one of Munich’s oldest dealers of BMWs – selling cars since 1919, is filing for bankruptcy and closing many of its dealerships around Munich. Despite lengthy negotiations with BMW, the statement from the head office is that they treat all partnerships equal and can not provide breaks for any specific dealers. So for now, it seems an end of an era for BMW sales in Munich.

1 comment:

Juergen Kuehn said...

May be - but it's superb captured.