Luxury,car,maker,BMW,starts,fe education Luxury car maker BMW starts to feel industry pain
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Chief executive Norbert Reithofer said conditions were weakening, after the German company posted a 14% rise in third-quarter profit on Tuesday that beat analysts forecasts.Like the rest of the sector, we are now beginning to feel some headwind, Norbert Reithofer said in a statement, which BMW put down to intense competitionan industry term for rising levels of incentives to attract customers such as low interest-rate financing and cheap leasing deals.Engineeeing Colleges Tamil NaduFor example, BMW offers leasing conditions on its revamped 3 Series that effectively equate to 26% off the list price in Germany, according to the CAR think tank at the University Duisburg-Essen.Best Engineering CollegesWith factories running flat out to meet surging demand in China and the US, German premium car makers were considered largely invulnerable to the crisis buffeting mass-market European car makers. But cracks are beginning to show.Daimlers Mercedes luxury car business last month warned it would fall nearly 800 million short of its earnings target this year and delayed plans to reach a 10% operating profit margin by 2013.Read More: livemint.com
Luxury,car,maker,BMW,starts,fe