Carmaker BMW saw its profits dive by three-quarters in the three months to the end of June as sales slipped during the economic downturn.
Net profit came in at 121m euros ($174m; £103m), 76% lower than the 507m euros it made a year earlier.
The firm said despite “some tentative positive signs, a lasting and wide ranging recovery is not yet in sight”.
Earlier on Monday, the world’s biggest carmaker Toyota reported a big quarterly loss after sales slumped.
Source: BBC News