BMW is facing significant challenges in China, with net profits down over a third and sales dropping 13.4% year-on-year. The German automaker is losing market share to local electric vehicle competitors like BYD while dealing with a brewing trade war that could cost them up to $1 billion this year. Despite slight sales increases in the US and Europe, the company aims to regain ground with its upcoming EV lineup, Neue Klasse. CEO Oliver Zipse is optimistic that tariff disruptions will not last long despite the current environment.
BMW's net profits collapsed by more than a third last year, primarily due to a decline in sales in China, and it faces ongoing trade conflict challenges.
CEO Oliver Zipse projected that the ongoing trade conflicts could cost BMW around 1 billion euros this year, although he believes the disruptions will be temporary.
Collection
[
|
...
]