BMW Borrowed $3.62 billion In 2009 From US Government

Despite popular beliefs, the Big Three weren’t the only automakers to accept money from the US government. According to a new article released yesterday, BMW requested $3.62 billion in 2009.

BMW used this money to expand its South Carolina assembly plant, as well as help sales of their vehicles in the US. Around $750 million went into the X3 plant.

We tapped into this program in 2008 and 2009 during the financial crisis like other companies,” BMW’s Matthias Schmidt told reporters in Munich. “It supported our financial profile and offered us an additional funding source, especially at times when the money markets and capital markets did not function properly and efficiently.”

The year of 2009 was not a happy year for most automakers and BMW, despite being a reputable brand, suffered its lowest sales in a decade. The German automaker managed somewhere around $270 million in sales, but had $2 billion in free cash flow thanks to good old Uncle Sam.

BMW currently produces Mini and Rolls-Royce.


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