BMWs CEO: The best and worst parts
BMWs chief executive is blaming the parts shortage for his company’s woes, and said his company would get some help from the government in the short term.
In an interview with Bloomberg TV, BMW Chief Executive Matthias Müller said it’s difficult to solve the problem if the government does not step up.
BMWs problems were caused by a lack of parts in some of its cars, he said.
But he added that he hopes the government will do more to help solve the issue, citing the recent introduction of fuel efficiency standards.
BMW’s sales were down 7.4 percent in the first quarter, the company said in its second-quarter earnings report.
The company also reported a loss for the first time in three years.
Müller told Bloomberg that the company would be spending more on its own repairs, as it has done in the past.
He said BMWs sales would remain stable in the second quarter, but added that its share of the U.S. auto market is growing.
BMW shares were up 1.8 percent in after-hours trading.