AGP Executive Report
Last update: 6 hours agoBMW’s Outlook Worsens: BMW cut its 2026 automotive margin forecast to between -0.5% and 0.5%, down from 1% to 3%, as China demand weakens and restructuring costs rise. The company plans to speed up organizational changes, including management cuts. China’s Competitive Push: Chinese automakers are gaining ground as Dacia sales fall and Japanese manufacturers’ China output drops 32%. Changan reported October sales of 233,800 vehicles, with overseas sales up 77.3% year over year. EV Production Expands: Egypt’s NASCO is targeting 3,000 locally built electric cars in its first year, while BYD is preparing local production in Pakistan. Renault’s third-quarter revenue rose 1.4%, supported by EV growth despite intensifying competition. Trade Pressures: South Africa’s auto industry faces mounting strain from U.S. tariffs and the loss of Agoa trade benefits.
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