Bmw Bad News

BMW is lowering sales and earnings targets for the 2024 fiscal year, in a move the luxury German car maker said was partially triggered by hefty expenses of addressing a braking system recall that impacts more than 1.5 million vehicles worldwide. A global stop-sale affecting a significant portion of BMW's model lineup has caused disruptions for many dealerships, potentially impacting hundreds of thousands of vehicles worldwide. The news.

It was further bad news for BMW, which has been hit by weakening demand in China, and for the broader German car sector after Volkswagen said last week it was mulling over the unprecedented step. BMW was very close to having a new version of the iconic M1. However, the automaker pulled the plug on that project at the last minute, and it's unlikely BMW will build a new supercar anytime soon.

BMW said Tuesday it was recalling about 1.5 million vehicles due to problems with their brakes and cut its outlook for the year, sending the German luxury carmaker's shares tumbling. BMW Group had a bad year 2024 due to the confluence of several factors. Problems with a braking system and persistent weakness in China reduced deliveries, revenue and profit.

Shares are down by. There's bad news there, and there's worse news. The bad news is that all three are highly exposed in the Chinese market, which has lost much of its appetite for European cars.

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