BMW lowered the outlook for the profitability of its automotive division, citing worse-than-expected demand which has been impacted by global measures to contain the coronavirus.
FILE PHOTO: A person wipes a BMW car on display at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Lucy NicholsonFRANKFURT: BMW lowered the outlook for the profitability of its automotive division, citing worse-than-expected demand which has been impacted by global measures to contain the coronavirus.
BMW on Tuesday widened the expected range for the earnings before interest and taxes margin for the automotive segment, and now expects a range between 0per cent and 3per cent this year.BMW had previously said it expected an EBIT margin of between 2per cent and 4per cent.
Source: Car News Wire (carnewswire.net)
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