BERLIN—BMW cut its car division’s 2022 profit margin forecast on Wednesday, the latest automaker to warn of problems from ongoing chip shortages and new supply chain disruptions as a result of Russia’s invasion of Ukraine. It now expects an earnings before interest and taxation (EBIT) margin of 7–9 percent for its car business rather than 8–10 percent, due to the impact of the unfolding Ukraine crisis. BMW halted or slowed production at some German plants after the invasion due to supply chain bottlenecks, but will be back to full production next week, production chief Milan Nedeljkovic said. Production of the Mini in Oxford remains suspended. The premium carmaker has shifted its schedule to compensate for lost production time, Nedeljkovic said, for example completing renovation works at certain plants planned for later in the year, to minimize the impact on output. Russia’s invasion of Ukraine and COVID-19 related disruptions in China …
BMW Joins Other Carmakers in Ukraine Crisis Output Warning
March 17, 2022
admin
BMWBusiness & Economychip shortagesCompanieseconomic policieseconomyEuropeInternationalinvasionMarketsRussia-Ukraine WarUkraine crisisWorld
0 Comment