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BMW earns fall 28 percent
Higher costs for new technology, high year-earlier result lead to earnings decline
By The Associated Press

FRANKFURT, Germany (AP)  German luxury automaker BMW AG says earnings fell 28 percent in the second quarter due to higher costs for investments in new technology, and after a large one-time plus from the year-ago quarter affected the comparison.

Net profit fell to 1.28 billion from 1.77 billion a year ago. Sales rose 7 percent to 19.2 billion.

The company said higher costs for new technologies, vehicle development and personnel played a role in the earnings decrease. It also said that the previous year's quarter had seen record earnings boosted by 464 million in one-time additions to earnings.

The company reported record sales of 475,000 vehicles and said its profit margins remained at a strong 11.6 percent.

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