finance
BMW reports lower profit on China sales drop
BMW reported lower than expected second-quarter earnings and issued a full-year profit warning. The company attributed the results to reduced demand in China and announced plans for a strategic review.
MA
bmwblog.comAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
BMW lowered its full-year profit margin guidance after reporting weaker-than-expected second-quarter earnings. The company said reduced demand in China was the primary factor.
2 billion euros, below analyst estimates. Vehicle sales in China fell 15 percent compared with the same quarter a year earlier.
The company stated it will conduct a strategic review of its product lineup and manufacturing footprint. Officials said the review will examine ways to improve competitiveness in key markets including China. "The downturn in China has exposed structural challenges that require a comprehensive response," a company statement said.
Transparency
1 source · single source
CorroborationModerate · 1 source
