BMW reported a significant decline in net profits for 2024, with an annual fall of 36.9% to €7.68 billion ($8.32 billion). The car maker cited “continuing subdued demand in the Chinese market” as a major factor contributing to the drop. Despite this, BMW forecasts a narrower earnings margin of 5-7% for cars in 2025, compared to 6.3% last year.
The company’s chief financial officer warned that added tariffs on U.S. imports could lower its autos earnings margin by one percentage point. BMW attributed the decline in deliveries, which totaled around 2.45 million units, mainly to delivery stops linked to a faulty braking system supplied by Continental.
In an interview with “Squawk Box Europe,” BMW CEO Oliver Zipse criticized the use of tariffs in the modern world, citing their negative impact on global markets. He expressed optimism about the future of free trade and predicted a shift in attitude toward tariffs over the next 12-18 months.
Source: https://www.cnbc.com/2025/03/14/bmw-bmw-full-year-results-2024.html