BMW deteriorated its profit forecast for 2018 due to the US trade war with China


German carmaker BMW reported a lower profit forecast for the current year amid a deterioration in the automotive market caused by the US trade war with China, which is BMW's largest market. Specialists of BMW note the strengthening of price pressure in several automobile markets. The German company produces premium SUVs for China at its largest plant in the US. According to BMW estimates, in 2018 pre-tax profit will decrease moderately, the profitability will decrease to 7% from 8.9% of revenue. During trading on Tuesday, BMW shares fell in price by more than 5%. This is the fastest rate of decline for 3 months.

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