Wuhan, China – May 25: (China Out) attendees wear protective masks as they see in Wuhan, Hubei province, China around BMW IX3 during the 2023 Central China International Auto Show on 25 May, 2023. The 2023 Central China International Auto Show was attended by more than 80 brands which began on Thursday. According to local reports, electric vehicle brands of over 40 brands participated in the exhibition. (Photo by Getty Image)
Getty image | Getty Image News | Getty images
BMWIn 2024, more than one -third of net profit was slipped, “continued the demand in the Chinese market.”
The net profit for the year fell 36.9% annually to 7.68 billion euros ($ 8.32 billion). According to the Reuters, print was in line with an LSEG forecast.
The stocks were trading 2% less at 8:57 am on Friday at 8:57 am.
The car manufacturer said that in 2025 it expects an earning margin for about 5% to 7% of cars, compared to 6.3% last year, but said the implementation of tariffs was determined to negatively impact the earnings in the year.
The company said in a statement, “A challenging competitive atmosphere and macroeconomic, trade and geopolitical development can all have a significant impact on commercial performance.”
The company’s forecasts account for all tariffs imposed till March 12, including a levy on US steel and aluminum imports and 20% on imports from China and 25% on imports from Canada and Mexico.
The BMW Chief Financial Officer said the tariffs which were added to the US imports were imposed till the date that the date would not be less than one percentage points to its autos income margin, according to the Reuters, cited a copy of a speech due to the distribution to investors on Friday.
The automaker said that it expects an ongoing “challenging situation” in China, while Tariff Hike is named and “Running Support for Supply Series” as Headwind this year.
BMW delivery was around 2.45 million units last year, slightly below 2.55 million in 2023. The company largely attributed the fall for the delivery stop associated with the defective braking system supplied by the Continental, which inspired the car manufacturer last year. lower Its entire year outlook.
On Friday, BMW CEO Oliver Zips told “squalk box Europe” that tariffs could be a good means decades ago, when the global markets were not connected to each other as today – but they criticized their use in the modern world.
“Everything is associated with everything (today), the world will see very quickly that this may not be the most clever way to improve your competition,” he said. “There are strong indications at the same time that there is a future for free trade. We will see changes in the attitude towards tariffs in the next 12 to 18 months, I am almost sure.”
