The German automaker reduced its financial outlook for the fiscal year 2024, citing weaker sales, particularly in China, and supplier issues.
These changes reflect the automaker's expectations of a significant decrease in Group Profit Before Tax , a stark contrast to the slight decrease previously anticipated. Similarly, the Motorcycle division's ROCE has been adjusted to 14%-16% from the earlier projection of 21%-26%. The EBIT margin mid-point for this division has also been decreased to 6.5% from the initial forecast of 9.0%. This downgrade is attributed to increased competition in key markets such as China and the USA.
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Source: autocar - 🏆 93. / 67 Read more »