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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayerische Motoren Werke AG    BMWG   DE0005190003

BAYERISCHE MOTOREN WERKE AG

(BMWG)
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German car stocks fall on Trump's Mexico tariff threat

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05/31/2019 | 05:00am EDT
FILE PHOTO: A Volkswagen logo is pictured in a production line at the Volkswagen plant in Wolfsburg

FRANKFURT (Reuters) - Shares in German car makers extended losses in Frankfurt on Friday after U.S. President Donald Trump threatened to slap tariffs from next month on imports from Mexico, where the big three manufacturers have plants.

BMW, Daimler and Volkswagen, which have plants in Mexico to take advantage of lower labour costs and U.S. trade deals with its southern neighbour, were down by as much as 2.9 percent by 0800 GMT.

Shares in Asian auto makers dropped overnight.

Trump said he would hit goods coming from Mexico with a 5% tariff and would hike that levy each month until it hits 25% on Oct. 1, unless Mexico takes immediate action against illegal immigration across the U.S. border.

A spokesman for VW subsidiary Audi said the company was watching developments very closely but it was too early to speculate on outcomes.

A note by car analyst Arndt Ellinghorst described German carmakers as exposed, noting BMW's new plant at San Luis Potosi represented nearly 20% of its production for North America.

An auto industry source said the situation was puzzling in that the migration issues belonged to the political stage and came despite an update to the North American Free Trade Agreement (NAFTA) in the making for this summer.

It also came as the EU and the United States are working to avoid an escalation in trade conflicts.

Commerzbank strategist Ulrich Leuchtmann said: "The U.S. trade policy has taken a qualitatively different turn. Using tariffs as a tool for non-economic goals is something which brings a new quality to proceedings."

(Reporting by Vera Eckert; Additional reporting by Riham Alkousaa in Berlin and Ilona Wissenbach in Frankfurt; Editing by David Holmes)

Stocks mentioned in the article
ChangeLast1st jan.
AUDI AG 0.00% 798 Delayed Quote.2.05%
BAYERISCHE MOTOREN WERKE AG 0.00%End-of-day quote.0.00%
DAIMLER AG 0.39% 46.52 Delayed Quote.1.33%
VOLKSWAGEN AG 0.43% 154.2 Delayed Quote.11.00%
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Financials (EUR)
Sales 2019 98 635 M
EBIT 2019 7 444 M
Net income 2019 5 569 M
Finance 2019 16 774 M
Yield 2019 4,82%
P/E ratio 2019 7,94x
P/E ratio 2020 6,75x
EV / Sales2019 0,27x
EV / Sales2020 0,26x
Capitalization 43 182 M
Chart BAYERISCHE MOTOREN WERKE AG
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Bayerische Motoren Werke AG Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 32
Average target price 76,2  €
Last Close Price 66,5  €
Spread / Highest target 77,6%
Spread / Average Target 14,7%
Spread / Lowest Target -16,8%
EPS Revisions
Managers
NameTitle
Harald Krüger Chairman-Management Board
Norbert Reithofer Chairman-Supervisory Board
Nicolas Peter Chief Financial Officer
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
BAYERISCHE MOTOREN WERKE AG0.00%47 561
TOYOTA MOTOR CORP11.81%179 048
VOLKSWAGEN AG11.00%86 498
DAIMLER AG1.33%56 196
GENERAL MOTORS COMPANY17.67%54 509
BMW AG ST-5.71%47 561