BMW chief executive Oliver Zipse expects a reordering of the car industry in the coming years, warning in an interview on Thursday that the sector cannot afford mistakes, as the company bets heavily on its revamped electric vehicle offering.
The European Union will likely have to wait a few more days for an executive order by U.S. President Donald Trump lowering tariffs on imports of European cars and car parts, a source familiar with the EU-U.S. negotiations said.
German carmaker BMW maintained its full-year guidance on Thursday, holding strong against the threat of U.S. tariffs as the company's strong manufacturing presence in the country gives it an edge on competitors.
Europe's carmakers, already battling stiff competition from Asia and a costly transition to electric cars, were dealing with another dose of reality on Monday - tariffs imposed by U.S. President Donald Trump.
Auto tariffs are lower for Japan and the EU. Now Ford and GM await a U.S. deal with Mexico and South Korea.
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