BMW said second-quarter pre-tax profit fell more than one-third YoY to €1.7bn, slightly above market consensus of €1.6bn. Core automotive operating margin dropped to 2.3% from 5.4% a year earlier, marginally ahead of analysts' 2.2% forecast. The company cited headwinds from Middle East tensions and weak demand and is cutting staff to prepare for tougher competition. CEO Milan Nedelkovic said the industry faces rapidly intensifying challenges — stronger global competition, rising regional regulat

BMW said second-quarter pre-tax profit fell more than one-third YoY to €1.7bn, slightly above market consensus of €1.6bn. Core automotive operating margin dropped to 2.3% from 5.4% a year earlier, marginally ahead of analysts' 2.2% forecast. The company cited headwinds from Middle East tensions and weak demand and is cutting staff to prepare for tougher competition. CEO Milan Nedelkovic said the industry faces rapidly intensifying challenges — stronger global competition, rising regional regulatory demands and the effects of geopolitical conflict. BMW reiterated full-year guidance, forecasting automotive operating margin of 1-3%.