BMW reports a drop in profits in the July to September quarter amid fierce competition from China. German carmaker BMW reported a nearly 15% drop in third-quarter net profit on Wednesday, as competition from China shakes the global car industry. Net profit for the third quarter fell to 1.45 billion euros ($1.61 billion), while sales fell nearly 6% to 30.45 billion euros, BMW said. The main cause of the decline was BMW's poor business in China.