BMW Predicts Flat Profits in 2013

BMW AG expects pretax income of about €7.8 million ($10.1 billion) this year, roughly matching 2012 earnings, as heavy investments in new models, technology and factory capacity offset a predicted sales gain.

The company forecasts a single-digit percentage increase in deliveries from last year's record 1.85 million vehicles. BMW says its factories are using overtime to operate above full capacity to meet strong demand outside Europe.

The company predicts its automotive earnings before interest and taxes will be 8%-10% of revenue this year compared with 10.9% in 2012 and 11.8% in 2011.