German automaker BMW AG says its third-quarter earnings were 1.8 percent lower than a year earlier as a result of increased costs for investments, research and development.
The luxury car maker said Tuesday that it earned 1.79 billion euros ($2.08 billion) in the July-September period, down from 1.82 billion euros last year. Revenue edged up 0.3 percent to 23.42 billion euros from 23.36 billion euros.
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The company said the BMW Group, which also includes Mini and Rolls-Royce, delivered 590,415 vehicles in the third quarter, 1.2 percent more than a year earlier. Its core brand was helped by the new 5 Series, launched in February.
BMW said it is forecasting a "solid" increase in pre-tax profit for the full year, having previously predicted a "slight" rise.