BMW Spoils Auto Earnings Optimism With Warning of Virus Risk
- Carmaker benefiting from robust sales in biggest market China
- Company cautions of high demand risk linked to pandemic
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BMW AG ended an upbeat quarter for European automakers by warning that the rapidly resurging coronavirus pandemic could wreck a sales recovery driven by strong demand in China.
BMW confirmed its full-year profit forecast on the back of rising sales in China. Still, the German luxury carmaker cautioned that Covid-19 is worsening in Europe’s biggest markets, with fresh lockdowns threatening to crimp demand for its automobiles.