7 Votes

Boost it!

BMW AG gives a tepid outlook for the auto markets.

BMW predicts that the euro would stay strong after third-quarter earnings before interest and tax (EBIT) dropped 86% to 55 million euros (about $80.5 million).

Recently, BMW’s shares fell 6.2%, making it the biggest decliner in the DJ Stoxx European car sector index, which was down 3.5%. Analysts don’t have much confidence in the stock of the world’s biggest maker of premium cars. They cited dismal third-quarter results; its core automobiles business lost 76 million euros ($112.3 million) before interest and tax in the quarter. DZ Bank analyst Michael Punzet said that his firm’s negative view on BMW came from the several risks BMW is exposed to from currencies, especially euro/sterling. He also sees lower residuals in the future.

Read Article

Report: Bmw sees fragile market rebound after Q3 miss

About the Author

tryme

User Comments

ItsMi
Yonder7
JRobUSC
StarSearch
theoptimisticpessimist
JRobUSC
ghosthunter
JRobUSC
StarSearch
Yonder7
ItsMi
Yonder7
theoptimisticpessimist
Yonder7

Add your Comments

Images hosted in your AgentSpace can now be posted in the comments section using the following syntax (case matters): [img]IMAGE URL[/img]
Example: [img]http://agent001.myautospies.com/images/sample.jpg[/img]