BMW profit drops amid tech push and as luxury crown shifts to rival

A driver's seat is installed on a BMW 7-Series sedan on the assembly line at PT Gaya Motor in Jakarta, Indonesia, in Nov. 2016. BMW, lacking the financial heft of rivals backed by a larger parent, is focusing resources on innovating for the future instead of chasing short-term sales volumes, the company said Thursday after posting lower profits. (BLOOMBERG)

By:

Elisabeth Behrmann

March 09, 2017 05:00 AM

BMW AG reported its weakest profitability since 2010, capping a negative year for Chief Executive Officer Harald Krueger after the brand lost the industry sales crown to arch-rival Mercedes-Benz.

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