BMW raises pretax profit guidance regardless of third-quarter earnings decrease

Images of BMW 5-Series

BMW somewhat raised its profit outlook relying on demand for new models and slashing development spending even as third-quarter revenues fell on technology expenses. The automaker on Tuesday anticipated a 5-10 percent gain in pretax profit, raising a former forecast of 1-5 percent. New vehicles are adding fuel to demand, including its redesigned 5 Series, […]

Magna to produce BMW 5-series plug-in hybrids

Images of BMW 5-Series

Canadian auto provider Magna International will produce BMW’s brand-new 5-series plug-in hybrid at its Austrian factory, the company stated as part of a strategy to produce electric vehicles on an agreement basis for worldwide automakers. The BMW 530 plug-in hybrid will be produced starting this summer at Magna’s plant in Graz, Austria, where it currently […]