BMW Cuts Financial Targets on Recall Costs, Muted Demand in China
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Dow Jones
By David Sachs
BMW lowered its financial targets for the year, citing a recall and market headwinds, including muted demand in China.
The German luxury-car maker said that costs from a recall of more than 1.5 million vehicles with problematic braking systems will land in the high three-digit million euros. That, along with headwinds in China, has prompted BMW to cut its forecasts for earnings margin and return on capital employed, the company said Tuesday.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
September 10, 2024 07:23 ET (11:23 GMT)
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