BMW Q2 profits fall over a third

German car company BMW reported a sharp decline in profits during the second quarter of 2026, with net after-tax profits decreasing by 35% to €1.2 billion. Revenue also fell from €34 billion to €31 billion. The company faced significant challenges in the Chinese market, where sales dropped by around a third, substantially impacting its performance. As a result of these conditions, the company announced a plan to cut 8,000 jobs worldwide, including programs for early termination benefits, amid efforts to boost efficiency and reduce costs amid rising global competition and declining sales. This comes at a time when the automotive sector as a whole is experiencing a profit downturn, with performance in the Chinese market—once a major source of profits—deteriorating.

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