BMW's net profit crashed by over a third in 2024 to 7.68 billion euros ($8.32 billion), in line with market expectations, after a combination of weak sales in China and Germany as well as delivery hold-ups because of problems with a brake dented performance.

BMW has reported a 36 per cent fall in profits last year following weak demand in China and a global recall of cars and has warned it expects earnings will remain at a similar level this year because of new European and US tariffs.