BMW CFO Sees €500 Million of Costs Burdening Q4 Results

Newswire

BERLIN, Nov 5 (Reuters) - BMW Finance Chief Friedrich Eichiner said fourth-quarter earnings will be strained by about 500 million euros ($675.5 million) of upfront spending on technology that may push the quarterly automotive EBIT margin to the lower end of the company's target range. BMW has a goal to keep the full-year automotive EBIT margin between 8 and 10 percent. The CFO said on Tuesday that 2013 and 2014 will be "peak years" of spending on research and development ...

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