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FRANKFURT -- BMW will step up cost cutting in anticipation of a difficult year, the German carmaker said on Friday, as it reported a 7.9 percent decline in 2018 operating profit due to higher investments in electric vehicles and currency headwinds. "In view of current developments, we intend to further broaden and significantly intensify these (cost-cutting) efforts," he said, adding the company would reduce the number of vehicle variants it builds and markets.

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  • Uploaded    03/15/2019
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