BMW posts flat profits as investments erode automotive margins
Published 04/11/2016 | 08:07
BMW posted flat third-quarter operating profit on Friday as investments in new technologies to cut pollution and increase safety ate into profits from sales of its premium cars.
BMW said third-quarter earnings before interest and taxes (EBIT) was €2.38bn, in line with the €2.37bn consensus estimate in a Reuters poll.
The return on sales at BMW's automotive division fell to 8.5pc from 9.1pc a year earlier, the company said on Friday, marking the 26th consecutive quarter automotive profits have been within its target range of between 8pc and 10pc.