BMW full-year profit falls 17% on higher R&D costs

BMW X7 19 web.jpg — BMW X series crossovers now make up 44 percent of the BMW brand's global sales. Pictured is the X7. (BMW)

By:

EDWARD TAYLOR

By:

Reuters

March 13, 2020 01:20 PM

FRANKFURT -- BMW said 2019 operating profit fell 17 percent but record demand for high-margin crossovers helped the automaker offset higher R&D spending.

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