BMW's predictions will not come true

BMW, the luxury carmaker , has lowered its 2025 profit forecast due to slower growth in China and U.S. import duties. The German company said it expects pre-tax group earnings to fall slightly from the previous year. It also lowered its return on capital employed (ROCE) forecast for its automotive business to 8%-10% from 9%-13%. BMW said a high-three-digit million-euro refund of customs duty refunds from U.S. and German authorities is now expected in 2026 rather than 2025. This would reduce expected free cash flow at the automotive business to just over 2.5 billion euros, about half the previously assumed 5 billion euros.