BMW has reported a 25 per cent fall in earnings as it adjusts to new global tariffs and stiff competition in the Chinese market.
However, the carmaker maintained its full-year forecast that profits would broadly match last year’s, saying it anticipated some global tariffs would be rolled back from July.
The company said on Wednesday that its earnings before tax in the first quarter reached €3.1bn — 25 per cent down on the same period last year.
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