BMW plans management cuts, AI push and new models to revive profits

BMW set out a restructuring plan on Wednesday centred on AI, management cuts and two new model launches as the German luxury automaker seeks to restore investor confidence after a string of profit warnings and a deep slump in its share price.

As Europe’s car industry struggles with weak demand, Chinese competition and US tariffs, BMW’s reputation for stability took a hit in June when it issued its third profit warning linked to weak performance in China in just over three years.