BMW cuts margin outlook for cars division citing coronavirus crisis

Topics BMW | Coronavirus | Lockdown

BMW on Tuesday lowered the outlook for the profitability of its automotive and motorcycles divisions, citing worse-than-expected demand which has been hit by measures to contain the coronavirus.

BMW said it expects the earnings before interest and taxes (EBIT) margin for the automotive segment to fall within a range between 0 per cent and 3 per cent this year, adjusting its outlook from a previously expected margin range of between 2 per cent and 4 per cent. "The decisive factor for the adjustment is that the measures to.....

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