BMW

BMW Cuts Profit Forecast for Second Time This Year as Costs Rise

German carmaker BMW has lowered its profit forecast, AFP reports. It is the second time this year that the company has issued a profit warning.

Mercedes-Benz cuts profit forecast as shares fall more than 5% on China challenges and rising costs

German carmaker Mercedes-Benz Group has taken aim at rivals Volkswagen and BMW and lowered its profit forecast. The stock, which has lost more than a third of its value so far this year, fell more than 5 percent after the announcement.

Saudi Arabia’s Ceer Unveils Luxury Electric Cars as It Opens First Riyadh Showroom

Saudi Arabia’s new electric car brand has opened its first store in the capital, Riyadh. Its first two luxury models have been unveiled, but competition is fierce.

Electric cars continue to gain ground, accounting for 49 percent of new registrations in September

German carmakers face profit slump as Europe feels the strain

European carmakers have delivered a string of disappointments amid a flood of reports. Profits are shrinking and sales forecasts are being cut. Tens of thousands of employees are being laid off. The question is whether Italian luxury brand Ferrari can show the way forward for Europe’s car industry.

BMW to cut around 8,000 jobs as it faces pressure from Chinese rivals, report says

German carmaker BMW is to cut around 8,000 jobs. The company is now offering severance pay as it faces competition from Chinese manufacturers.

Mercedes lowers sales forecast as weak China demand hits profits

Weak demand in the Chinese car market is now also forcing Mercedes-Benz to lower its sales forecast.

German car industry braces for more plant closures and job cuts

Volkswagen's plan to close four factories and cut 100,000 jobs - not yet approved by the board of directors - is just one of several expected cuts in Germany's giant car industry. BMW and Mercedes-Benz, as well as several major German suppliers, are on the same track.