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Tesla Destroying BMW? BMW Profits Face 'Significant Decline' in 2019

shadowkin in Markets & Trading

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shadowkin    + 584

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BMW warned it faces a significant decline in its 2019 profit. It blamed trade conflicts, rising costs, and new emissions regulations.

BMW board member also blamed "rapid transformation" of the auto industry, a clear allusion to EVs and specifically Tesla, since at this point it is the only OEM with vehicles in the same class as BMW.

Its profits ytd are down 7.9% from 2017.

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