Munich - German luxury carmaker BMW said Tuesday that it was lowering its profits forecast for 2009, following disappointing third-quarter results.
Profits plunged 62.9 per cent to 298 million euros (375 million dollars) compared to the same quarter of 2007, the company said in a statement released in Munich.
Turnover was down 8.6 per cent to 12.59 billion euros as global sales dropped 4.2 per cent to 349,098 vehicles, the company said.