BMW reported a 35% fall in second-quarter net profit to 1.2 billion euros after revenue declined to 31 billion euros from 34 billion a year earlier, results that underscored the pressure behind its planned job cuts. The automotive division's operating result tumbled more than 60% to 629 million euros, leaving the group earning more from financial services than from building cars during the quarter.
The Munich-based manufacturer's struggles in China deepened, with deliveries there falling nearly a third year-on-year. For the first half of 2026, group profit stood at 2.9 billion euros, down from 4.0 billion in the same period of 2025. Chief executive Milan Nedeljkovic, who has led the company since mid-May, is overseeing the restructuring after announcing the voluntary redundancy programme targeting 8,000 positions by late 2027.