German manufacturer lost 666 million euros ($787 million) before interest and taxes between April and June, its first quarterly deficit since the financial crisis in 2009.The company’s auto business, which recorded a bigger-than-expected Ebit loss, was mainly to blame after deliveries tanked due to pandemic-related shutdowns of dealerships and factories, the company said Wednesday in a statement.BMW is the final German manufacturer to report after what has been a difficult quarter for carmakers.
VW lost 2.4 billion euros and cut its dividend, while Daimler AG argued it had weathered the worst but still needs to slash tens of thousands of jobs.Renault SA’s alliance with Nissan Motor Co.