German automaker BMW has revised its financial guidance for 2024, citing a decline in global sales. This adjustment is attributed to technical issues with its Integrated Braking System, impacting over 1.5 million vehicles and leading to additional warranty costs. The company also faces subdued demand in China, despite government stimulus measures. As a result, BMW now anticipates a slight decrease in deliveries and a lower EBIT margin for 2024.
Tesla plans to expedite the launch of new, more affordable electric vehicles (EVs) following a significant sales decline. The company’s CEO, Elon Musk, has previously indicated that Tesla will release a model priced below £21,500 ($25,000). Despite rumors of abandoning this project in favor of developing a self-driving robotaxi, Tesla has confirmed that it remains committed to introducing a cost-effective model.
