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BMW AG (ETR:BMW) shares were flat in early trading in Frankfurt on Friday after the carmaker warned that profit margins would take a hit from US tariffs and escalating trade tensions. The company expects its automotive earnings margin to be between 5-7% this year, below analysts' forecasts of 7.3%.
BMW expects to report slight sales growth this year but said earnings would remain flat as it faces headwinds from continuing challenges in China and costs related to tariffs and its supply chain.
BMW's Chief Financial Officer said on Friday that the added tariffs on U.S. imports imposed up until March 12 would reduce its earnings margin in the autos segment by one percentage point, according to a copy of his speech seen in advance.
BMW's net profits slumped by more than a third in 2024 as weaker demand in China and Germany weighed on the high-end car manufacturer.
BMW's net profit crashed by over a third in 2024 to 7.68 billion euros ($8.32 billion), in line with market expectations, after a combination of weak sales in China and Germany as well as delivery hold-ups because of problems with a brake dented performance.
German automaker BMW is telling dealers in the U.S. it will absorb the added cost of new tariffs on its imports from Mexico, at least for the next several weeks, the Wall Street Journal reported on Wednesday.
Last week, it was announced that President Donald Trump's new 25% tariffs on Mexico and Canada would exempt vehicles that comply with the USCMA trade deal. German carmaking giant Volkswagen told CNBC that its operations meant it would be exempt from the levies.
Here is how Bayerische Motoren Werke AG (BAMXF) and XPeng Inc. Sponsored ADR (XPEV) have performed compared to their sector so far this year.
Volkswagen said Thursday that its vehicles made in North America comply with the United States-Mexico-Canada Agreement (USMCA), meaning they will likely avoid being subject to the 25% tariffs U.S. President Donald Trump has imposed on imports from Mexico and Canada which do not comply with the trade deal's rules.
BMW said on Saturday it is rethinking its timetable for manufacturing all-electric Mini cars in Britain, citing uncertainties facing the industry.