BMW reported a decline in earnings for the first quarter, particularly noting a lower profit margin in its automotive segment. The company cited increased manufacturing, research and development, and personnel costs as major factors. Additionally, a decrease in used car prices contributed to the earnings dip. Despite these challenges, BMW experienced a surge in electric car sales. The luxury car maker anticipates a slight drop in pre-tax profit for the year, mainly due to the persistent high costs and decreased demand for luxury cars in China.
BMW said 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 https://t.co/TV0K59zKUI https://t.co/p4KlmVpflH
BMW said 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 https://t.co/G1fsywDMwF https://t.co/2hyluO6Q0V
BMW's Q1 financials: profit dip amidst electric car sales surge https://t.co/CU6vOXhSGc https://t.co/3kCosZrUNc
BMW's earnings declined in the first quarter after rising manufacturing costs weighed on the luxury-car maker’s profitability https://t.co/t0uxxpvFFD
⚠️ BMW'S Q1 AUTOMOTIVE MARGIN FALLS AS HIGH COSTS PERSIST Full Story → https://t.co/ECGL5k0vRP BMW on Wednesday reported a lower first-quarter profit margin in its automotive segment as persistently higher costs continued to weigh and demand for luxury cars in China remained…