1.5 million BMW vehicles recalled due to brake issues, impacting 2024 profitability and delivery forecasts.

BMW is recalling approximately 1.5 million vehicles due to brake problems, which has led the company to revise its 2024 outlook. The automaker now expects vehicle deliveries to decline slightly, contrary to previous forecasts for growth. Additionally, BMW has lowered its profitability guidance, anticipating margins between 6% and 7%, down from 8% to 10%. This recall follows a reported 8.6% drop in net profit in Q2, attributed to weak demand, particularly in China.

September 10, 2024
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