BMW Quarterly Profit Misses Expectations Due to Weak China Sales, Brake Issues
LONDON/FRANKFURT (Reuters) -BMW on Wednesday reported a 61% drop in its third-quarter profit, missing analyst expectations because of slumping China sales and brake problems and sending its shares to their lowest level in more than 2-1/2 years.
China woes weigh on profits at Toyota, Honda and BMW
Slowing demand in China led to steep falls in quarterly profit for Toyota, Honda and BMW, dragging even the strongest carmakers into a broader downturn hitting the sector. Until now, Japan’s Toyota and Honda had outperformed their European and US rivals due to strong hybrid and petrol sales in North America.
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Brake problems and weak Chinese market hit BMW Q3 figuresTechnical problems with braking systems and weak demand in China saw third quarter profits fall by 84% on the year to €476 ...
Volkswagen is mulling the closure of factories in Germany for the first time to cut costs, while rivals BMW and Mercedes-Benz ...
Potential import tariffs under the U.S. presidency of Donald Trump may benefit BMW, its CEO said on Wednesday, even as shares in the German premium carmaker and its rivals plummeted due to concerns ...
BMW reported a sharp drop in profitability for its key automotive unit, hit by costs of a recall and weak demand in China, ...
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