BMW 2nd Quarter Profits Fall 4.3%

BMW AG reports on Wednesday that their second quarter profits had fallen 4.3 percent. The drop in profits according to BMW was due to the strong euro, rising material costs, and costs associated with launching new models. BMW states they will still hit record sales numbers by year end.

According to Stefan Krause - CFO
"The company is heading toward a sales volume growth rate in the high single-digit percentage range and a sales volume of over 1.4 million vehicles."