BMW says high-end EVs will drive profit

BMW said its top-end electric vehicles like the 7-Series sedans, X7, and Rolls Royce Spectre will drive profit this year, even as faltering global demand weighs on broader EV sales. The German luxury-car maker expects its priciest models to be key contributors to a 8 percent to 10 percent margin for its automotive segment, in line with its longterm target. BMW sees overall sales increasing slightly. BMW is facing fierce competition in China, its biggest market, where a sluggish economy and price war led by Tesla is weighing on the industry.