BMW says it is lowering its forecast due to the ramp-up of production and one-off costs linked to staff cuts. The profit margin for its car business is now expected to be between minus 0.5 percent and plus 0.5 percent for the full year, according to the company.
The carmaker also lowered its forecast in June this year. At the time, BMW said the lower profit forecast was due to falling demand in the Chinese market, its largest, amid stiffer competition from domestic brands. In addition, the Iran war has hit energy prices and purchasing power.
The company's stock has fallen by 40 percent this year.
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