BMW 2012 Annual Report Download - page 23

23 COMBINED GROUP AND COMPANY MANAGEMENT REPORT
The percentage drops in France (– 14.0 %), Italy (– 20.0 %)
and Spain (– 13.4 %) reached double figures in each
case. Of the major car markets in Europe, only Great
Britain was able to buck the trend, with the number of
new vehicles registered up by 5.3 % to approximately
2 million units.
Japan’s car market grew exceptionally strongly in 2012,
jumping by 28 % to 5.2 million units, mainly due to eco-
nomic revival in the wake of the Fukushima catastrophe
in the previous year, manifested in a production catch-
up effect and increased demand for spare parts.
The Russian market demonstrated its generally robust
state of health with new registrations up by around 9 %
to 2.7 million units. India’s car market also continued
to display an upward trend (2.8 million units; + 10 %).
Brazil saw its car market climb by 3.4 % to 3.6 million
units, largely due to the initiation of a new state-funded
stimulus programme.
Motorcycle markets in 2012
International motorcycle markets in the 500 cc plus class
continued to fare divergently in 2012. Overall this
mar-
ket segment contracted worldwide by 1 % compared
to the previous year. In Europe (– 9 %), the impact of the
sovereign debt crisis was felt most sharply in the region’s
southern countries, including sharp market downturns
in Italy (– 20 %) and Spain (– 22 %). Great Britain (– 5 %)
and France (– 2 %) recorded more moderate declines.
In a contrasting trend, the 500 cc plus class market in
Germany grew by 4 % compared to one year earlier. The
corresponding segment in the USA also registered a
moderate increase (+ 2 %) in the period under report.
Brazil was 6 % up on the previous year. The motorcycle
market in Japan continued to steer a course of recovery
in 2012, growing strongly by 18 %.
The financial services market in 2012
All of the world’s major central banks adhered to their
adopted course, ensuring that commercial banks had
access to large volumes of liquidity. Marked rises in
refinancing costs in a number of countries within the
eurozone triggered various political measures that
helped to stabilise the financial markets.
Price levels on international used car markets continued
to develop inconsistently in 2012. While North America,
Germany and Great Britain were largely stable, adverse
economic developments in some southern European
countries caused used car prices to fall in the region.
Despite the debt crisis in Europe and the resulting nega-
tive impact on unemployment figures, credit risk levels
for retail, dealer and importer financing business did
not worsen overall. By contrast, the situation in southern
Europe continues to be difficult in the face of adverse
economic conditions.
Precious metals price trend
(Index: 31 December 2007 = 100)
300
250
200
150
100
50
08 09 10 11 12
Source: Reuters
Palladium
Gold
Platinum