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.
) 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.
“The decisive factor for the adjustment is that the measures to contain the coronavirus pandemic are lasting longer in several markets and are thus leading to a broader negative impact than was foreseeable in mid-March,” BMW said. Further margin pressure could come from market distortions caused by an even stronger competitive environment or from a second wave of infections and associated containment measures.
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