BMW stays cau­tious amid ris­ing costs

New Straits Times - - Business -

MU­NICH: BMW AG has main­tained its con­ser­va­tive profit fore­cast as chief ex­ec­u­tive of­fi­cer Har­ald Krueger seeks pa­tience to push through a tran­si­tion to self-driv­ing, elec­tric cars. While ri­val Daim­ler AG up­graded its tar­get to a “sig­nif­i­cant” gain this year, BMW kept its goal of a “slight” earn­ings in­crease, it said in a state­ment. It will fo­cus on its higher-end mod­els in com­ing years, in­clud­ing a new X7 sport util­ity ve­hi­cle, as it cov­ers the steep costs of de­vel­op­ing the rides of the fu­ture.

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