BMW expects the coronavirus pandemic to hit demand and earnings throughout this year, while Volkswagen sees some green shoots with higher Chinese demand.
Francis Maguire reports.
BMW cuts outlook, sees coronavirus pain lasting all year
Demand and profit will be down throughout the year, BMW warned on Wednesday.
A drop in first-quarter deliveries forced the German automaker to cut its outlook for passenger cars.
Shipments fell by a fifth in the first quarter BMW forecasts profit margins of 0 to 3% this year.
That compares with the 2-4% seen before demand was crippled by worldwide restrictions on movement.
The forecasts are just the latest sign that profits at traditional automakers are on the wane.
Firms like BMW have spent huge sums to clean up combustion engines and face competition from electric vehicle makers.
German rival Volkswagen was slightly more positive Wednesday though.
It sees demand rebounding in China as new buyers move from public transport to owning their own vehicles.
Sales of passenger cars there were above year-earlier levels in the last week of April.
But VW warned business would not recover so quickly everywhere else.
Sales were down as much as 85% in Europe outside Germany in April.