Bad time for BMW
BMW has big problems. The profit falls in the second quartal. The profit drops by 35 percent. That is 1,2 billion euro.
The income goes down. The income is 31,3 billion euro. Experts think the income is too low.
China is a big problem. BMW sells fewer cars in China. The competition is very hard there.
Trouble with cars
The car business brings much less money. The profit falls by 60 percent. That is a very bad point for BMW.
BMW makes more money with loans now. People borrow money for cars. That is strange for a car maker.
Other German firms have the same trouble. The whole car branch has big tasks.
Saving money and job cuts
BMW wants to save money. The firm cuts 8000 jobs. Many office jobs go away.
Workers get money to leave the firm. That is an exit pay.
The new boss Milan Nedeljkovic wants a new start. BMW needs fast electric cars.
