Pickup truck profits highlight growing divide among global automakers

Former Aston Martin CEO Andy Palmer said those selling pickups in the U.S., which is closed to Chinese carmakers, were gaining respite for now from pressures in other markets where they have to balance selling combustion engine cars with developing new electric ones and fending off Chinese rivals.

"The good news is you're profiting from legacy stuff like pickup trucks, but you're not making the change," Palmer said, referring to the stalling but steady shift to EVs. "And if you don't make the change, you don't fund the future."

BMW is struggling to shape its future.

For decades, it rode high on a reputation for technological excellence and, like fellow premium German brands Mercedes-Benz and Porsche, a long heritage that it could monetize with wealthy car buyers.

But BMW's sales in China fell 30% in the second quarter and it is on track for a third consecutive year of decline in the world's largest car market.