Cars
BMW Is Weeding Out Its Lineup to Prepare for the Electric Future
- Challenges are unlikely to diminish soon, CEO Krueger says
- BMW automotive return falls on weaker markets, trade tensions
BMW AG will weed out its model lineup to reduce costs as the German luxury-car maker copes with a cooling global economy and persistent trade tensions that show little sign of resolution.
“The challenges facing the entire sector are unlikely to diminish in the coming months,” Chief Executive Officer Harald Krueger said Friday in a statement presenting preliminary results. “Great efforts will therefore be needed across the entire group to help shape the sector’s transformation under such conditions.”