Board member says BMW to cut production cost per vehicle by 25% By Reuters

© Reuters. FILE PHOTO: A logo of German luxury carmaker BMW, is seen ahead of the company’s annual news conference in Munich, Germany, March 20, 2019. REUTERS/Michael Dalder/File Photo

FRANKFURT (Reuters) – BMW plans significant production cost cuts by the middle of the decade, one of the German carmaker’s board members said, in a bid to become more competitive with Volkswagen (DE:), Daimler (OTC:) and Tesla (NASDAQ:).

“We will lower the production costs per vehicle by 25% by 2025 – compared with the level in 2019,” Milan Nedeljkovic, BMW’s board member in charge or production, was quoted as saying by German newspaper Handelsblatt.

Last month BMW said it remained on course to meet its profit targets for 2021, despite rising raw material costs, although a global chip shortage will worsen and may hit production in the second quarter.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button