Less Profit For BMW Due To Setbacks In China

Less Profit for BMW due to Setbacks in China. Due to disappointing car sales in China, a German car manufacturer BMW reached less profit in the second quarter.

Furthermore, the automaker suffered from the increase in raw material prices.

The business result of the Bavarian group declined by more than 6 percent to 2.44 billion pounds.

Total turnover shrank by almost 3 percent to 22 billion pounds.

American and European car manufacturers have been troubled for years by the trade tensions between China and the United States.

China previously stated a rebate in import duties as of 1 July.

According to BMW, potential buyers delayed their purchase, in the hope that cars would become cheaper.

The manufacturer of luxury cars maintains its expectations for the whole of 2018.

BMW is counting on a slight increase in sales and profit compared to last year.