Categories Technology, U.S. Markets News

BMW’s profit warning sends shockwaves through the US auto industry

US auto stocks slipped into the red zone on Wednesday after Germany-based rival BMW said that it expects its profits to decline considerably in 2019. Both Ford (F) and Fiat Chrysler Automobiles (FCAU) were down 1.8%, while General Motors (GM) saw the biggest decline of 3% during intra-day trading.

The decline in the auto industry weighed on the S&P 500 index, sending it down 0.26%.

Photo by Andras Vas on Unsplash

At the Frankfurt Stock Exchange, shares of BMW shed 5% of its value, while domestic rival Volkswagen slipped 2.3%.

BMW said its profits in 2019 would be limited by the higher expenses required to meet the stricter emission regulations. Separately, investments required to develop electric and autonomous vehicles, currency fluctuations and trade tensions are expected to send pre-tax profits 10% below last year’s figure.

The announcement is of great significance, given BMW is one of the better-off auto companies, thanks to a popular line up of car models. If BMW is showing signs of weakness, the health of rival firms could be questionable.

READ: KANDI TECHNOLOGIES ADDS TO AMERICA’S EV LINEUP

BMW, meanwhile, announced a $14-billion cost saving program to offset some of the impacts of the trade tensions and investments required for self-drive vehicles.

Chief Financial Officer Nicolas Peter said job cuts are not in the cards at the moment, though higher natural attrition would increase efficiency of the company.

 

Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Comments

  1. Pingback: Lincoln Georgis
  2. Pingback: Beverly Bultron
  3. Pingback: zinc sunscreen
  4. Pingback: valentine pillow
  5. Pingback: baby stop crying
  6. Pingback: Click Here
  7. Pingback: Click Here
  8. Pingback: Click Here
  9. Pingback: Click Here
  10. Pingback: Click Here
  11. Pingback: Click Here
  12. Pingback: Click Here
  13. Pingback: Click Here
  14. Pingback: Click Here
  15. Pingback: Click Here
  16. Pingback: Click Here
  17. Pingback: Click Here
  18. Pingback: Click Here
  19. Pingback: Click Here
  20. Pingback: Click Here
  21. Pingback: Click Here
  22. Pingback: Click Here
  23. Pingback: Click Here
  24. Pingback: Click Here
  25. Pingback: Click Here
  26. Pingback: Click Here
  27. Pingback: moveit studio
  28. Pingback: Click Here
  29. Pingback: Click Here
  30. Pingback: Click Here
  31. Pingback: Click Here
  32. Pingback: Click Here
  33. Pingback: Click Here
  34. Pingback: Click Here
  35. Pingback: Click Here
  36. Pingback: Click Here
  37. Pingback: Click Here
  38. Pingback: Click Here
  39. Pingback: Click Here
  40. Pingback: Click Here
  41. Pingback: Click Here
  42. Pingback: Click Here
  43. Pingback: Click Here
  44. Pingback: Click Here
  45. Pingback: Click Here
  46. Pingback: Click Here
  47. Pingback: Click Here
  48. Pingback: Click Here
  49. Pingback: Click Here
  50. Pingback: Click Here
  51. Pingback: Click Here
  52. Pingback: Click Here
  53. Pingback: Click Here
  54. Pingback: Click Here
  55. Pingback: Click Here
  56. Pingback: Click Here
  57. Pingback: invite and earn
  58. Pingback: Click Here
  59. Pingback: Click Here
  60. Pingback: Click Here
  61. Pingback: Click Here
  62. Pingback: Click Here
  63. Pingback: Click Here
  64. Pingback: Click Here
  65. Pingback: Click Here
  66. Pingback: Click Here
  67. Pingback: Click Here
  68. Pingback: Click Here
  69. Pingback: yoga pants
  70. Pingback: Google reviews
  71. Pingback: 2023 Books
  72. Pingback: obituary
  73. Pingback: marriage records
  74. Pingback: rip
  75. Pingback: cemetery
  76. Pingback: IRA Empire
  77. Pingback: Chirurgie Tunisie
  78. Pingback: Top Management fue
  79. Pingback: Academic programs
  80. Pingback: Admission Process
  81. Pingback: fue
  82. Pingback: Research projects
  83. Pingback: fue
  84. Pingback: Software Engineer
  85. Pingback: Resume Building
  86. Pingback: education
  87. Pingback: human-development
  88. Pingback: political reform
  89. Pingback: Pharmacognos
  90. Pingback: fue
  91. Pingback: fue
  92. Pingback: faretti a binario
  93. Pingback: rotary torso
  94. Pingback: livpure
  95. Pingback: kerassentials
  96. Pingback: prodentim
  97. Pingback: Fiverr Earn
  98. Pingback: fiverrearn.com
  99. Pingback: fiverrearn.com
  100. Pingback: fiverrearn.com
  101. Pingback: fiverrearn.com
  102. Pingback: fiverrearn.com
  103. Pingback: ddkc
  104. Pingback: morkie dog
  105. Pingback: pied frenchie
  106. Pingback: clima hoy ny
  107. Pingback: frenchie colors
  108. Pingback: future university
  109. Pingback: Fiverr
  110. Pingback: Fiverr.Com
  111. Pingback: future university
  112. Pingback: lean manufacturing
  113. Pingback: Warranty
  114. Pingback: FUE
  115. Pingback: FUE
  116. Pingback: FUE
  117. Pingback: FUE
  118. Pingback: Moving trucks
  119. Pingback: FiverrEarn
  120. Pingback: FiverrEarn
  121. Pingback: FiverrEarn
  122. Pingback: Media
  123. Pingback: FiverrEarn
  124. Pingback: partners
  125. Pingback: flow force max
  126. Pingback: FiverrEarn
  127. Pingback: FiverrEarn
  128. Pingback: FiverrEarn
  129. Pingback: FiverrEarn
  130. Pingback: FiverrEarn
  131. Pingback: live sex cams
  132. Pingback: FiverrEarn
  133. Pingback: FiverrEarn
  134. Pingback: FiverrEarn
  135. Pingback: FiverrEarn
  136. Pingback: FiverrEarn
  137. Pingback: FiverrEarn
  138. Pingback: FiverrEarn
  139. Pingback: garden
  140. Pingback: email
  141. Pingback: Slot Online
  142. Pingback: Situs Slot Online
  143. Pingback: Kuliah Termurah
  144. Pingback: FiverrEarn
  145. Pingback: FiverrEarn
  146. Pingback: FiverrEarn
  147. Pingback: FiverrEarn
  148. Pingback: cheap sex cams
  149. Pingback: fullersears.com
  150. Pingback: dog probiotics
  151. Pingback: live sex cams
  152. Pingback: live sex cams
  153. Pingback: freeze dried
  154. Pingback: frt trigger
  155. Pingback: 늑대닷컴
  156. Pingback: Slot Fantasi
  157. Pingback: One Peace AMV
  158. Pingback: nangs near me
  159. Pingback: allgame
  160. Pingback: 918kiss
  161. Pingback: หวย24
  162. Pingback: Best cleansers
  163. Pingback: pg slot
  164. Pingback: cybersécurité
  165. Pingback: megagame
  166. Pingback: 35 whelen ammo
  167. Pingback: itsMasum.Com
  168. Pingback: itsMasum.Com
  169. Pingback: nangs sydney
  170. Pingback: nang tanks
Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top