BMW lowers margin outlook for autos division citing coronavirus woes

FRANKFURT: BMW lowered the outlook for the profitability of its automotive division, citing worse-than-expected demand which has been impacted by global measures to contain the coronavirus.

BMW on Tuesday widened the expected range for the earnings before interest and taxes (EBIT) margin for the automotive segment, and now expects a range between 0pc and 3pc this year. BMW had previously said it expected an EBIT margin of between 2pc and 4pc.