Munich — BMW lost ground to global luxury-car leader Mercedes-Benz as profits from production fell while the euro’s gains prompted the manufacturer to reduce its forecast for automotive revenue. Amid increased spending to refresh and expand its car line-up, BMW is now predicting a "slight" gain in 2017 automotive revenue, compared with its previous forecast for a "solid" increase, the Munich-based company said in a statement on Tuesday. Alongside the outlook for a lacklustre end to the year, third-quarter automotive profit margin slipped to 8.3% of revenue, below the 9.2% at Mercedes, where charges for air-bag recalls and diesel-model fixes held back profitability. Once the biggest maker of luxury cars, BMW is struggling to regain momentum in its tussle with Mercedes. Its styling has become conservative, while it straddles the dual demands of refreshing its conventional line-up to make money and develop new technology for the looming shift to self-driving, electric cars. "BMW is lik...
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