The reason for the lowered forecast was, on the one hand, additional burdens in the car business resulting from delivery bans and recalls in connection with an integrated braking system (IBS) built by a supplier, it was said. Sales in the second half of the year will be lower because vehicles cannot be delivered worldwide. In total, more than 1.5 million cars are affected. BMW put the additional costs at a high three-digit million amount.
In addition, the Chinese market is not growing as expected. Despite government support measures, people are still reluctant to buy, it was said.
BMW shares fell following the news and were 5.7 percent lower at 73.22 euros.
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