BMW forecasts slight pre-tax profit decline due to rising costs and weak China luxury car demand.
BMW expects a slight drop in pre-tax profit this year due to higher R&D, manufacturing, and personnel costs, as well as decreasing used car prices. The Munich-based automaker reported a fall in its first-quarter profit margin in the automotive segment, with demand for luxury cars in China remaining muted. BMW's pre-tax margin in the car segment fell to 8.8% from 12.1% in Q1 2022.
May 08, 2024
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