March 20, 2013 / 10:26 AM / 5 years ago

BMW's 2013 profit target includes hit to pricing

FRANKFURT, March 20 (Reuters) - BMW said the net price of its cars could deteriorate by as much as 1 percent this year without affecting the premium carmaker’s targets for stable group pretax profit and an automotive operating margin of 8-10 percent.

Finance chief Friedrich Eichiner told analysts on Wednesday he sees a risk that net pricing could take a hit of 50-100 basis points this year, implying higher incentive spending to sell cars.

While this was reflected in BMW’s current earnings forecast, Eichiner said the group internally was still striving for an improvement in net pricing.

Eichiner also said that neither changes in foreign exchange rates nor material costs would have an impact on earnings. (Reporting By Christiaan Hetzner)

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