BMW posts flat profits as investments erode automotive margins
FRANKFURT (Reuters) - 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 2.38 billion euros ($2.64 billion), 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 percent from 9.1 percent a year earlier, the company said on Friday, marking the 26th consecutive quarter automotive profits have been within its target range of between 8 percent and 10 percent.
($1 = 0.9008 euros)
(Reporting by Edward Taylor; Editing by Christoph Steitz)
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