BMW (BMW) full year results 2024 BMW's net profits slumped by more than a third in 2024, flagging "continuing subdued demand in the Chinese market."
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Net profit for the year fell by an annual 36.9% to 7.68 billion euros ($8.32 billion). The print was in line with a LSEG forecast, according to Reuters.
Shares were trading 2% lower at 8:57 a.m. London time on Friday.
The car maker disclosed that it expects an earnings margin for cars of around 5% to 7% in 2025, compared with 6.3% attained previous year, taking one thing with another noted that the implementation of tariffs was set to have a negative impact on earnings in the year ahead.
"A opposing competitive environment and macroeconomic, trade and geopolitical developments could all have a significant impact on business performance," the company revealed in a statement.
The company's forecasts account for all tariffs imposed up to March 12, containing levies on U.S. steel and aluminum imports, and tariffs of 20% on imports from China and of 25% on imports from Canada and Mexico.
BMW's chief financial officer reported that annexed tariffs on U.S. imports imposed up until that date would lower its autos earnings margin by one percentage point, according to Reuters, citing a copy of a speech due to be delivered to investors later Friday.
The automaker disclosed that it expects an ongoing "challenging situation in China," while likewise naming tariff hikes and "ongoing endorse quantifies for the supply chain" as headwinds this year.
BMW deliveries totaled around 2.45 million units previous year, insufficiently down from the 2.55 million of 2023. The company largely attributed the deterioration to delivery stops linked to a faulty braking system supplied by Continental, which previous year prompted the carmaker to lower its full-year outlook.
On Friday, BMW CEO Oliver Zipse informed "Squawk Box Europe" that tariffs may have been a good instrument decades ago, when global markets were not as interconnected as they are today — nevertheless he condemned their show interest in the modern world.
"Everything is conjoined with everything [today], the world will see very quickly that this might not be the smartest way to amend your competitiveness," he stated. "There [are] strong signs at the same time that there's a future for free trade. We will see in the next 12 to 18 months a shift in attitude toward tariffs, I'm almost sure."
Category: World-News
Tag: BMW BMW full year results 2024
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Published 3/15/2025