BMW posts flat profits as investments erode automotive margins
BMW posted flat third-quarter (Q3) 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 (Q3) earnings before interest and taxes (EBIT) was 2.38 billion euros ($2.64 billion or nearly Rs 17,563.26 crore), in line with the 2.37 billion euros consensus estimate in a Reuters poll.
The return on sales at BMW's automotive division fell to 8.5% from 9.1% a year earlier, the company said on Friday, marking the 26th consecutive quarter automotive profits have been within its target range of between 8% and 10%.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.