The iconic German car maker is the latest car manufacturer to be hit by falling sales, including in China, where sales were down by almost 30%.
A recent global recall involving more than 1.5m vehicles and plummeting sales in China have weighed heavily on the iconic German car maker's quarterly performance.
BMW AG (including the Mini and Rolls-Royce brands) reported pre-tax profits of €838m for the three months to 30 September, almost 80% less than the same period last year. The group's revenue came in at more than 15% lower than the previous year and return on sales shrank to 2.6% from 10.6%.
The stuttering figures are partly explained by BMW's recent recall of 1.5m vehicles due to a faulty integrated braking system (IBS) supplied by Continental AG.
