Reported 19 days ago
BMW reported a staggering 61% drop in its third-quarter profit, failing to meet analyst expectations largely due to declining sales in China and brake system issues affecting over 1.5 million cars. The company's shares hit a two-and-a-half year low as competition in the Chinese market intensified amid a weak economy. Despite challenges, BMW's CEO remains optimistic about the U.S. market and forecasts a rebound through higher deliveries and an improved product mix.
Source: YAHOO