BMW warns on profit
German carmaker BMW warned its pretax profit would fall this year, against earlier expectations for a flat outcome, and cut its profit margin guidance for cars, blaming intense price competition following new emissions rules.
BMW’s shares fell 3.9 percent after the automaker joined rival Daimler and a raft of suppliers which earlier this year blamed a global trade conflict and the introduction of anti-pollution standards for hurting profits. (RTRS)