BMW expects its earnings before taxes in the fourth quarter to be significantly below last year and for its full-year margin to be in the lower half of its 6-7% target, according to slides posted on the carmaker's website on Tuesday.
Tesla, owned by Elon Musk, is taking the European Union (EU) to court over its tariffs on electric vehicles imported from China. Filed last Wednesday with the European Court of Justice (ECJ) by Tesla’s Shanghai division, the lawsuit comes in the wake of similar legal moves by BMW and other Chinese car manufacturers.
The EU imposed extra tariffs of up to 35% on Chinese-manufactured EVs in October after an anti-subsidy investigation found Chinese state support was unfairly undercutting European automakers.
BYD, Geely, SAIC and BMW are challenging the EU’s decision to apply up to 35.3 percent tariffs on cars entering the region
Tesla and BMW sue EU over tariffs on electric vehicles from China, joining Chinese automakers that filed claims. Read more.
BMW has joined Chinese producers in filing a challenge at the Court of Justice of the European Union (CJEU) against EU tariffs on China-made electric vehicles (EVs), according to a filing on the court's website.
Mercedes-Benz Group AG is joining a Geely lawsuit against European Union tariffs on electric cars imported from China, adding to a flurry of legal cases targeting the duties.
Elon Musk’s Tesla and Bayerische Motoren Werke AG (BMW) have sued the European Union’s (EU) executive, adding to a flurry of cases by Chinese carmakers attacking tariffs peaking at 45% on imports of electric vehicles (EVs) into the bloc.
BMW AG said its 2024 automaking profit margin will be at the lower end of guidance after sales of its premium cars fell.
EU promises 'action plan' to help the bloc's beleaguered auto sector, as it holds talks with industry leaders who have sounded the alarm over emissions fines and Chinese competition
Brands led by SAIC Motor Corp.'s MG registered 3.5 per cent fewer EVs in the region for all of 2024, according to data from automotive researcher Dataforce