German luxury carmaker BMW has announced that it expects its pre-tax profit for 2024 to be impacted by rising costs and lower prices in the used car market. The company cited challenges such as increased raw material prices, supply chain disruptions, and a competitive market environment as factors contributing to the anticipated decrease in profitability.
BMW's Chief Financial Officer stated that the company is implementing cost-saving measures to mitigate the impact of these challenges. These measures include optimizing production processes, streamlining operations, and exploring new revenue streams to offset the effects of lower used car prices.
