The Munich car manufacturer BMW sees a third and the tariff of US President despite a slump in profits Donald Trump on course and sticks to its forecast for the year as a whole. The BMW business model is intact, said CFO Walter Mertl on Thursday when submitting the business figures for the second quarter. “Our footprint in the USA helps us limit the customs effects. ” Nevertheless, the tariffs on the profit margin in the car business.
Already in the first half of the year it was 1.5 percentage points lower because the import taxes were due. BMW operates its world’s largest work in Spartanburg in the US state of South Carolina and exports SUV models from there to Europe. Limousins, on the other hand, are introduced to the USA from Europe and Mexico. In addition, however, the European Union’s import duties also come from electric cars China. BMW produces the electrical mini for the European market in the People’s Republic.
Clear decline in auto-profit margin
The profit margin in the car business, which is important for BMW, was 5.4 percent in the spring quartal and thus three percentage points lower than a year ago. However, it lies with a range of 5 to 7 percent that the Munich predicts for the current year.
In the second quarter, sales decreased by 8.2 percent to EUR 33.9 billion, and net profit fell by 32 percent to 1.82 billion euros. Compared to the analyst forecasts, there is a mixed picture: the turnover is significantly below the estimates of an average of 36 billion euros, but the net profit of 1.72 billion euros. The experts had predicted 5.5 percent in the profit margin in the car business.
The company continues to expect an increasing car market in many regions, even if the tariffs drive inflation up in the USA and the US trade policy and possible countermeasures could slow down economic output. In Europe, it is particularly important for electric cars and hybrids, explained BMW.
In China, on the other hand, the competition remains hard, growth is only predicted for the lower price segments. In the People’s Republic, wealthy customers suffer from the persistent crisis on the real estate market, which gives them the purchase of expensive new cars. Mercedes-Benz and Porsche To feel. A price war rages for electric cars.