BMW Is Also on the Chopping Block

After the shock of Volkswagen’s existential crisis and the profit warning by Mercedes one month ago, adducing a drop of sales in China, it is now the turn of the third giant German automaker, BMW, to announce a 84% drop in profits and a 16% drop in sales for Q2. The main reasons adduced are a drop in sales in China and costs induced by a recall of 1.5 million cars because of a brake problem.