Pursuits
BMW Sees `Fierce' Competition Holding Back 2015 Profit Gains
- Luxury-car leader sees costs rising for staying competitive
- BMW's margin on cars narrowed to 9.1 percent of sales
BMW Beats in 3Q Amid Volkswagen's Emissions Scandal
This article is for subscribers only.
BMW AG cautioned that “fierce” competition and higher spending levels will hold back profit gains this year, as aging models caused profitability to slide in the third quarter.
Slowing sales growth in China and pressure from rivals such as Mercedes-Benz are putting the world’s biggest maker of luxury cars on the backfoot. The company stuck to a goal of achieving a fifth consecutive year of record profit, but said growth will slow as costs to remain competitive climb.