BMW said third-quarter earnings before interest and tax (EBIT) rose 17 percent to €2.26 billion ($2.83 billion) as surging demand for its SUVs more than offset slow sales of its electric cars and Mini brand.
Net profit, however, slipped 1 percent to €1.31 billion. BMW said this was due to a higher tax bill and a writedown on the value of its stake in carbon fiber manufacturer SGL Carbon.
Audi’s profitability slipped during the third quarter as spending on new factories and models outweighed gains from record sales.
Profit as a proportion of sales at Audi eased to 9.2 percent in the third quarter, from 9.4 percent a year ago, the carmaker said.
By TOM KRISHER
Ford is recalling more than 202,000 cars, vans and trucks in North America in five separate recalls to fix gas leaks, air bag sensors, stalling and other issues.
