WUHAN, CHINA – MAY 25: (CHINA OUT) Attendees wear protective masks as they look around the at BMW Ix3 during 2023 Central China International Auto Show on May 25, 2023 in Wuhan, Hubei province, China. More than 80 brands took part in the 2023 Central China International Auto Show which started on Thursday. According to local reports more than 40 brands electric vehicle brands participated in the exhibition. (Photo by Getty Images)
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BMW‘s net profits slumped by more than a third in 2024, flagging “continuing subdued demand in the Chinese market.”
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 an LSEG forecast, according to Reuters.
This is a developing story and will be updated shortly.