BMW reports profit plunge

The German luxury car maker BMW on Tuesday posted a 73.8-percent drop in third quarter net profit after being slammed by a collapse in the market for high-end vehicles.
A BMW statement said net profit plummeted to 78 million euros (115 million dollars) from 298 million euros in the third quarter of 2008.
Analysts polled by Dow Jones Newswires had forecast a slightly better figure of 94 million euros this time around.