BERLIN -BMW on Wednesday reported a lower first-quarter profit margin in its automotive segment as persistently higher costs continued to weigh and demand for luxury cars in China remained muted.
The Munich-based group forecast EBT to decrease slightly this year due to higher manufacturing and personnel costs, as well as research and development expenses. A decrease in used car prices this year would also contribute to the decline.BMW is investing heavily in electric vehicles and model revamps across its line-up and expects spending to hit a record high this year, up from 7.5 billion euros last year.
Group EBT fell 18.9% in the January-March period to 4.1 billion euros , but still above the 3.9 billion euros expected by analysts.In this article, we discuss the 10 companies to consider in the portfolio of Kevin O’Leary for 2024. If you want to skip our overview of O’Leary’s investment philosophy and learn about some more companies in his stock portfolio, go directly to Kevin O’Leary’s Stock Portfolio: 5 Stock Picks for 2024.