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BMW beats forecasts

BMW has said its net income for the second quarter of 2012 before interest and tax (EBIT) fell 19% from its record level last year to €2.27bn, beating analysts' consensus forecast of €2.19bn, Reuters has reported. The world's largest premium carmaker kept the EBIT margin at its core autos business stable from the first quarter, at 11.6%, weathering what it called "intense market competition," which usually refers to rising incentive levels.