03-20-2019, 08:10 PM
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#4
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Major
Drives: 2015 335i
Join Date: Aug 2014
Location: Raleigh, NC
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BMW will step up cost cuts after profit warning
https://www.autonews.com/automakers-...profit-warning
Quote:
BMW flagged a challenging year ahead last week, saying great efforts will be necessary to push through the costly shift to electric and self-driving vehicles as markets fall and trade concerns mount.
The company said automotive profit margin will be in the range of 6 to 8 percent this year, below an 8 to 10 percent long-term target. Last year BMW's automotive margin was 7.2 percent.
Peter said that guidance could fall further if conditions worsen.
"The high level of volatility makes it difficult to provide a clear forecast," BMW said. "Depending on how conditions develop, our guidance may be subject to additional risks; in particular, the risk of a no-deal Brexit and ongoing developments in international trade policy," Peter said.
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