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BMW warned that its 2019 earnings will fall "well below" last year's level and announced a 12 billion euro ($13.

6 billion) cost savings plan to help offset the impact of trade conflicts and unprecedented spending on electric cars.

Pretax profit is expected to decline by more than 10 percent this year, the automaker said on Wednesday.

BMW is responding by stepping up a savings program with plans to cull models, reduce development times by as much as one-third and hold the workforce steady this year.



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BMW Issues Significant Profit Warning - Steps Up Cost Cutting

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