Car manufacturer adjusts annual forecast for 2024
The BMW AG is now a little less optimistic and has therefore reduced its Forecast lowered for 2024.
This forecast adjustment was triggered by delivery cancellations and recalls relating to the integrated braking system (IBS). In this regard, the Munich-based group speaks of additional burdens in the Automotive segment. Due to Extradition blocks According to BMW's explanations, this will have a negative impact on sales in the second half of the year. The car manufacturer also anticipates high additional warranty costs in the third quarter in connection with the IBS.
BMW also mentions the subdued demand in China. This is having an additional impact on sales volumes there. There is a continuing reluctance to buy in China despite government support measures, as the car manufacturer points out.
Significant decline in consolidated earnings before taxes expected
The Group has therefore revised its forecast on the basis of the developments described in the press release.
BMW therefore provides the following outlook for the Automotive segment:
Deliveries to customers are now expected to fall slightly rather than increase compared to the previous year.
With regard to the EBIT margin for 2024, BMW has indicated an expected corridor of 6 per cent to 7 per cent. Previously, a range of 8 per cent to 10 per cent was assumed.
According to its press release, BMW anticipates a significant decline in group earnings before taxes.