Report
Car Makers: When globalization is at risk so are German carmakers
Car MakersWhen globalization is at risk so are German carmakers
We come back more on details on BMW and Daimler following recent rumours of potential increase in import tariffs in U.S. Europe and China on automotive sector. While it is still not clear wheatear or not such threats will be applied it is clearly negative for the automotive sector but more specifically for German carmakers which continue to address large markets by exports. Within our BG Auto & Parts coverage Daimler and BMW are the most at risk. We adjusted negatively our 2018 EPS on these two companies to better reflect the risks notably following recent Daimler profit warning.
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Bryan Garnier
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Xavier Caroen
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