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BMW sticks with guidance despite profit drop, tariffs

Germany's BMW has today maintained its full-year guidance despite US tariffs and quarterly earnings dropping by a third, arguing that its large manufacturing presence in the country gives it an edge over rivals.

Business • 31 Jul

BMW expects some of the tariffs that have been imposed on vehicle imports to decline from July in one of the more optimistic views on the industry's prospects

BMW keeps 2025 outlook, warns US tariffs will bite in Q2

German premium carmaker BMW has today confirmed its 2025 outlook and said it expected some of US tariffs on car imports to decline from July, but warned the duties will have a "notable" second-quarter impact on its business.

Business • 07 May

Volkswagen, BMW electric cars outsell Tesla in Europe

Tesla EV sales in Europe have fallen in February behind legacy brand Volkswagen and the BMW group, as well as rivals from China, data by research platform JATO Dynamics showed today.

Business • 24 Mar

BMW cut its 2024 outlook because of slumping China sales and problems with a brake supplied by Continental, affecting 1.5 million cars.

BMW expects €1 billion hit to earnings from tariffs

BBMW said newly imposed trade tariffs could dent the carmaker's earnings by €1 billion this year, as escalating trade tensions between China, Europe and the US take a mounting toll on global companies' finances.

Business • 14 Mar

BMW today reported a 2.3% drop in overall vehicle sales

German premium carmakers' sales slow in China, Germany

Germany's top-end carmakers took a battering at home and in China in 2024, sales volume data showed, as wealthier consumers held back on purchases amid an uncertain economy and on slower than expected electric vehicle sales.

Business • 13 Jan

Some analysts have prediced that Stellantis will be 'hardest hit' by tariffs on US imports from Mexico as the group imported 358,000 units last year

European automakers fall as Trump pledges tariffs

European car makers shares fell today, as traders reacted to President-elect Donald Trump pledging big tariffs on Canada, Mexico and China, news that fueled jitters over a potential global trade war.

Business • 26 Nov 24

BMW said today it was on track to meet its adjusted full-year financial outlook

BMW profit dives by 61% and misses expectations

BMW has today reported a 61% drop in its third-quarter profit that missed analyst expectations because of slumping China sales and brake problems, but said it was on track to meet its adjusted full-year financial outlook.

Business • 06 Nov 24

The German car sector is facing challenges, ranging from high production costs and managing the shift to EVs to falling demand and rising competition from China

BMW and Mercedes quarterly sales drop on weak China

Sluggish demand and stiff competition in China hit third quarter sales at BMW and Mercedes, the German luxury automakers said today.

Business • 10 Oct 24

BMW said its first-quarter group pre-tax profit fell 18.9% to €4.1 billion but beat the €3.9 billion expected by analysts

Costs, low used car prices to weigh on BMW's profits

BMW said today it expects a slight drop in pre-tax profit this year due to higher research and development, manufacturing and personnel costs, with a decrease in used car prices also contributing to the decline.

Business • 08 May 24

BMW said its group revenues rose 3.4% to €38.5 billion in the third quarter

BMW reports higher Q3 margin, sticks to annual forecast

BMW has today reported a higher third-quarter margin in its core cars business, striking a more optimistic tone than some competitors as it confirmed its forecasts for the year.

Business • 03 Nov 23

The UK government is planning to delay a 2030 ban on new petrol car sales, reports suggest today

'Confusion' on UK climate policy will hit move to EVs

The transition to electric cars in Britain will be hindered by any confusion over climate policy, the auto industry's trade body said today.

Business • 20 Sep 23

BMW is to make a multi-million pound investment in its Mini plants in the UK

BMW to make investment in electric Mini output in UK

BMW said today it will invest £600m at its UK plants to take its iconic Mini brand all-electric by 2030, a fresh boost for Britain's car industry after years of Brexit-related uncertainty.

Business • 11 Sep 23

BMW today posted significantly higher revenues for the first half of 2023 at €74 billion

BMW reports solid revenue growth in first half of 2023

BMW has today reported significantly higher revenues for the first half at €74 billion, due partly to the integration of its Chinese joint venture BMW Brilliance Automotive (BBA) as well as higher sales and pricing.

Business • 03 Aug 23

BMW said its sales rose 4.7% in the first half of the year compared to last year

BMW lifts sales, earnings outlook on strong order book

BMW has today lifted its annual outlook for its margin on earnings before interest and taxes (EBIT) in the automotive segment to between 9-10.5% from 8-10% previously, and expects solid growth to its deliveries.

Business • 01 Aug 23

In a campaign from 2021 and 2022, BMW brands itself as being "the world's most sustainable car producer"

BMW reported to Danish police over marketing practices

The Danish Consumer Ombudsman (DCO) said in a statement that it has reported German carmaker BMW to the Danish police over marketing practices, which it alleges are misleading.

Business • 19 Jul 23

A total of 1.21 million BMWs, Mini and Rolls-Royces were delivered in the first six months of 2023

BMW Group sales grow significantly in second quarter

German carmaker BMW's sales grew significantly in the second quarter, rising 11.3% compared with the same quarter last year to 626,726 vehicles.

Business • 07 Jul 23

BMW maintained its number one position in the global premium segment

BMW Group sales down 4.8% in 2022 on supply bottlenecks

The BMW Group delivered just under 2.4 million vehicles in 2022, down 4.8% from the year before, with brand sales down 5.1% as supply chain bottlenecks caused by lockdowns in China and the war in Ukraine dampened deliveries.

Business • 10 Jan 23

BMW Chairman Oliver Zipse introduces the BMW i Vision Dee at CES 2023

BMW teases a talking car that shifts colours

BMW has unveiled a prototype for a car that talks like a human being, changes colours to suit the driver's mood and has no screens on its dashboard.

Business • 06 Jan 23

BMW posted pretax profits of €4.1 billion for the third quarter, beating analyst forecasts of €3.4 billion

BMW expects sales dent as inflation hits buying power

German premium carmaker BMW has today reported better than expected quarterly net profit thanks to high car prices but warned that rising inflation and interest rates would start to weigh on sales in the coming months.

Business • 03 Nov 22

BMW said its group sales were down 0.9% in the third quarter compared with the same time last year to 587,795 vehicles

BMW Group sales drop slightly in third quarter

BMW sold nearly as many cars in the third quarter as it did in the same period a year before, after the war in Ukraine and supply shortages led to a drop in deliveries in the first half of 2022, the German carmaker said today.

Business • 10 Oct 22

In Europe, order books were still full but demand was weak in Germany and the United Kingdom and stronger in France, Spain and Italy.

BMW expects slight growth in 2023

BMW expects to reach the higher end of its 7-9% margin target for the cars business and sees slight sales growth in 2023, chief financial officer (CFO) Nicolas Peter said in a roundtable today.

Business • 26 Sep 22

Sales of electric cars rose 110% in the first half of the year to nearly 76,000 BMWs and Mini cars

BMW sells 13% fewer cars in first half of 2022

Munich-based carmaker BMW sold nearly a seventh fewer vehicles in the first half of 2022 compared with the same period in 2021 amid chip shortages and intermittent lockdowns in China.

Business • 08 Jul 22

Newly-produced cars lined up at BMW's factory in Shenyang in China

BMW starts production at new China plant to ramp up EVs

Germany's BMW said today that production has formally begun at a new plant in China with an investment of 15 billion yuan ($2.24 billion) as the carmaker accelerates electric vehicle (EV) production.

Business • 23 Jun 22

BMW has warned that an embargo on Russian gas would bring the industry to a standstill

BMW exploring greener energy investments

BMW is exploring new investments in solar, geothermal and hydrogen energy to lower its dependence on natural gas, the carmaker's production chief told Reuters today.

Business • 23 May 22

BMW said it did not expect chip supplies to improve until at least the second half of 2022

BMW profit gets lift from Chinese joint venture

BMW has today posted a rise in first-quarter profit, boosted by a reevaluation of the German car maker's stake in its Chinese joint venture and strong pricing, and kept its 2022 outlook, despite volatile prices for commodities and energy.

Business • 05 May 22