BMW warns of €1B loss due to escalating trade tariffs
Renowned automaker BMW has projected a whopping €1 billion hit to earnings for the year 2024. The company's CEO Oliver Zipse blamed the forecast on rising trade tariffs, including EU duties on its China-manufactured electric vehicles (EVs) and newly imposed US tariffs.
BMW signals €1bn tariff hit on 2025 earnings
BMW chief executive Oliver Zipse said the company expected a €1 billion euro hit to its 2025 earnings from the newly imposed US tariffs and EU duties on its China-made electric vehicles. Its profits are expected lag well below its long-term targets this year.
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