BMW slashes profit forecast as China’s EV makers squeeze European carmakers on two fronts (opens in new tab)

BMW on Tuesday cut its full-year profit forecast for the car business, lowering its expected automotive EBIT margin to a corridor of 1 to 3 per cent from prior guidance of 4 to 6 per cent. The company blamed an accelerating decline in the Chinese market and the widening economic fallout from the conflict in the Middle […] at The Next Web