Explainer
Why is BMW's profit falling as its China sales slump?
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China is the main drag, with BMW's deliveries there down 24.8 percent in the quarter.
24.8%
Global deliveries fell only 6.3 percent, so China fell far more than the group as a whole.
6.3%
Profit margin in cars narrowed to 3.4 percent. The outlook was cut again, its second profit warning this year, from one to three percent down to between minus half a percent and plus half a percent.
3.4%
The payouts weigh on profit, alongside older models discontinued early. Earlier statements put total costs at a little over one billion euros. Finance chief Walter Mertl says: Speed is a success factor in our planned realignment.
“Speed is a success factor in our planned realignment.”
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The story
BMW cuts profit outlook again as China deliveries fall 24.8% and job cuts widenRead the article
Based on reports by
- Deutsche WelleBMW reports lower Q3 earnings as China woes mount
- Berliner Zeitung1.45 billion euros profit - and yet BMW is cutting more jobs than planned
- HandelsblattAutomotive industry: BMW profit shrinks
- Süddeutsche ZeitungBMW profit shrinks
- tagesschau.deBMW generates even less profit
- N-tvThe stock market day: profit collapse at BMW