BMW and Audi Report Drastic Profit Declines Amid Market Challenges

Both German automakers face significant financial setbacks due to technical issues and weakening demand in key markets like China.

BMW's third-quarter profit plunged by 84% to €476 million, largely due to braking system issues and a 30% sales drop in China.
BMW had to recall 1.2 million vehicles and halt deliveries of 320,000 cars, severely impacting its financial performance.
Audi's operating profit fell by 91% to €106 million, with significant costs associated with the planned closure of its Brussels plant.
The luxury brands Lamborghini and Bentley helped Audi avoid a complete financial loss, despite a 16% drop in vehicle sales.
Both automakers have adjusted their annual forecasts, with BMW maintaining a focus on electric vehicle growth and Audi emphasizing efficiency improvements.