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BMW's 2Q slips 4.3 per cent on rising euro, model launch costs

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FRANKFURT, Germany (AP) _ Luxury car maker B-M-W says its second-quarter profit slipped 4.3 percent

The Munich-based company says it earned 1.03- (b) billion dollars U-S in the April-to-June quarter, slightly below analyst expectations.

B-M-W says it was the victim of chaotic exchange rates that has seen the euro hit new highs, along with higher costs for the launch of new models.

Despite the dip in profit, sales continued to show strength, rising 11 percent to 20.1- (b) billion-dollars in the quarter as customers opened their wallets for its new models of the Mini and B-M-W sedans.

B-M-W says it still expects to sell a record number of cars this year and that its pretax profit would be higher than last year.

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BMW's 2Q slips 4.3 per cent on rising euro, model launch costs
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