BMW Group: takes strategic steps to improve performance
(CercleFinance.com) - BMW Group said it is taking strategic steps to improve its operating performance, citing the "many challenges" currently facing the automotive sector.
The German carmaker said that it is focusing on faster processes, leaner structures and therefore greater efficiency.
While upfront expenditure are expected to remain high, BMW said it will establish a new structure for its sales businesses.
The Munich-based group is aiming at potential cost-cutting efficiencies of over 12 billion euros by 2022.
However, these measures have clearly failed to convince investors today, with shares sliding over 5% in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The German carmaker said that it is focusing on faster processes, leaner structures and therefore greater efficiency.
While upfront expenditure are expected to remain high, BMW said it will establish a new structure for its sales businesses.
The Munich-based group is aiming at potential cost-cutting efficiencies of over 12 billion euros by 2022.
However, these measures have clearly failed to convince investors today, with shares sliding over 5% in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.