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BMW cuts 2022 profit forecast for car segment due to Ukraine war

today03/16/2022 24

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BMW cuts 2022 profit forecast for car segment due to Ukraine war

Via CNBC.com:

BMW lowered its profit margin expectations for its automotive segment for 2022 due to the war in Ukraine, the German carmaker said on Wednesday.   

BMW Group now predicts growth of earnings before interest and taxation (EBIT) in its car segment in a range of 7-9% due to the war’s effects on production.

Without the impact of war, the company would have targeted a range of 8-10%, it said. 

BMW said production interruptions should continue to be expected due to the war, adding it was able to continue to source parts from western Ukraine.

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Written by: LoneRhody

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