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FinanceBMW Q3 pretax profit plunges 35% on China slump, prompting restructuring calls
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BMW reported a 35% decline in quarterly pretax earnings to 1.7 billion euros ($1.95 billion), driven by a slump in the Chinese market. The premium carmaker's CEO cited fierce global competition, increasing regulatory requirements, and the effects of geopolitical conflicts as key challenges. The earnings drop has prompted calls for restructuring within the company to address the headwinds.
Source report
The premium carmaker reports a 35% drop in quarterly pretax earnings to 1.7 billion euros (US$1.95 billion).
- The automotive industry faces fierce global competition, increasing regulatory requirements and the effects of geopolitical conflicts, said BMW’s CEO. (Photo: Bloomberg)
Source
The Business TimesRegional
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China slump hits BMW's earnings, prompting restructuring call