FRANKFURT, Germany -- Earnings skidded at three major German automakers in the January-March quarter, with their exposure to China thrown into sharp relief amid the market's loss of momentum.
BMW's net profit declined 75% to 561 million euros ($628 million) in results released Tuesday, largely owing to a provision of nearly 1.4 billion euros for a possible antitrust ruling in the European Union. Excluding the effects of this charge, the automotive segment's operating profit would have come in more than 40% lower than a year earlier.
