BMW's Q2 core automotive profit margin decreased to 8.4% due to increased competition and weakened demand in China.
BMW reported an 8.4% profit margin for its core automotive segment in Q2 due to increased competition and weakened demand in China, falling short of the 8.7% expected by analysts. The decline is attributed to high investment levels in model revamps and electric vehicles. BMW confirms a slight decrease in pre-tax earnings for 2024 due to higher costs in R&D, manufacturing, and personnel, but expects China's economy to stabilise in Q3.
August 01, 2024
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