Credit crisis leads BMW to book hefty charge in Q1

Newswire

HAMBURG, April 24 (Reuters) - BMW , the world's largest premium carmaker, will book a 236 million euro ($372 million) charge for the first quarter as the on-going turbulence in credit markets forces it to raise its risk provisions. "The financial crisis has become more severe of late," the company said in a statement on Thursday. "This has resulted in a drop in pre-owned car selling prices, particularly in North America, and consequently in a reduction of revenues that can be generated on ...

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