BMW experienced a significant decrease in profit in the first six months of this year. This was partly due to American import duties and weaker performance in China, due to fierce competition from local car manufacturers.
The profit decline at BMW was less severe than that of other German competitors. Volkswagen and Audi each saw more than a third of their profits decline. Mercedes-Benz’s profit plummeted by more than half.
Ultimately, BMW retained just over 4 billion euros in the first half of the year, 29 percent less than in the same period a year earlier. Revenue amounted to approximately 67.7 billion euros, 8 percent less than last year. The car company delivered 1.2 million vehicles.
BMW has not disclosed the exact costs of the American import duties in the first half of the year. However, the company expects a lower profit margin this year due to the impact of the tariffs.