Frankfurt am Main: German high-end carmaker BMW on Thursday reported a dip in quarterly profits after ramping up spending on electric and self-driving cars.
But the group confirmed its full-year outlook, saying its focus on future technology would help see it through “challenging times” as global trade tensions mount.
The Munich-based group reported net profit of 2.1 billion euros ($2.4 billion) from April to June, down 6.1 per cent year-on-year but slightly better than analysts had predicted.
Revenue at the group, which also makes the compact Mini and luxury Rolls-Royce, dipped nearly three per cent to 25 billion euros despite record deliveries of nearly 638,000 cars in the third quarter.
BMW said earnings were braked by negative currency effects and higher raw materials prices. — AFP
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