Investment researcher Evercore ISI said the guidance from BMW, for a 10% fall in pre-tax profit in 2019, was worse than expected. Evercore ISI said BMW’s forecast of profits of between 6 and 8% compared with its expectation of 7.7%. Evercore ISI’s report was headed “Where is BMW’s product momentum”. “Questions will arise if and when BMW’s product momentum will finally improve. He estimated a worst case scenario of a 25% tariff could cost BMW up to 1.7 billion euros ($1.9 billion) in lost profit.

Source: Forbes March 20, 2019 11:37 UTC