FRANKFURT, Sept 25 (Reuters) - German carmaker BMW on Tuesday said it would not meet its full-year target of achieving a flat pretax profit and lowered its profit margin guidance for cars, blaming intense price competition in the wake of new emissions rules.
BMW said its full-year pretax profit would moderately decrease, rather than remaining on par with last year’s level. The operating margin in the automotive segment is now expected to be at least seven percent, rather than in line with the group garget of 8-10 percent, BMW said.
In August BMW affirmed its full-year targets but analysts at Evercore ISI on Monday doubted BMW’s ability to meet its full year pretax profit target. (Reporting by Edward Taylor ; Editing by Tassilo Hummel)