The automaker expects earnings to remain flat this year while sales will grow only slightly as a result of global trade tensions and a demand shift in China.

However, there’s a bit of good news as The Wall Street Journal is reporting that BMW has told U.S. dealers it will absorb tariffs on Mexican-made vehicles. The company will reportedly do this for at least the “next several weeks,” which could save buyers thousands of dollars.

German carmaker BMW said on Friday it expected tariffs to cost it 1 billion euros this year, while European officials warned the U.S. economy would be the biggest loser if President Donald Trump pursues an "idiotic" trade war.