Automotive industry: BMW's profit shrinks - and it will get even worse
On Tuesday evening, the car manufacturer shocks the markets with the second profit warning this year. In the third quarter, BMW suffers from China - the fourth quarter will be bitter for other reasons.
BMW's profit has decreased, with the company earning 1.45 billion euros after taxes in the third quarter, a 15% drop from the previous year. The decline is largely attributed to poor performance in China, where the company saw a 25% decrease in sales. Despite this, BMW's overall sales only dropped by 6.3% due to increases in Europe and the US. The company has issued a profit warning, expecting a loss in its core business and cutting its sales forecast to a moderate decline of 5-9.9%.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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