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Last Updated: Tuesday, 6 November 2007, 18:21 GMT
BMW shares fall on weak results
BMW Efficient Dynamics

BMW shares have fallen after the carmaker released three-month results that were weaker than expected.

Pre-tax profits rose 6.3% to 765m euros ($1.11bn; 533m) in the three months to the end of September.

BMW's shares were the biggest faller among German blue-chips, ending down 3.3% or 1.49 euros at 43.31 euros.

The unexpectedly low figure was blamed on one-off and non-operating items such as exchange rates, higher raw material costs and spending on product launches.

The third-quarter results came on the day that the euro hit a record high against the dollar at $1.4531.

The weak dollar makes BMW's vehicles more expensive for customers in the US.

BMW's statement said that it was "well on its way toward achieving its sales volume targets for the full year".

The company still expects to achieve record pre-tax profits this year, excluding the effects of a one-off gain of 372m euros from a Rolls-Royce convertible bond in 2006.

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