BMW warned of a possible reduction in pre-tax profit by more than 10% in 2019


German automaker BMW said that in the current year, pre-tax profits could fall by more than 10% amid the transformation of the automotive industry. Compared to a decline of 7.8% in 2018, the rate of decline in this indicator may accelerate this year. According to the company, the profitability of the automotive business in operating profit will be below the long-term benchmark of 8-10% and will be 6-8%. The company's performance came under pressure from significantly increased spending on the development of electric vehicles and unmanned vehicles, as well as due to the effects of trade disputes. World sales of BMW, MINI and Rolls-Royce cars in 2018 increased by 1.1% to 2 million 490 thousand cars. This year, the company expects the same growth in supply - by 1.1%. The first BMW with a high degree of automation is expected to enter the market in 2021. The company also intends to reduce the time to develop new models by a third, having thinned the existing model range.  

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