(Reuters) – BMW expects its earnings before taxes within the fourth quarter to be significantly below last yr and for its full-year margin to be within the lower half of its 6-7% goal, in response to slides posted on the carmaker’s website on Tuesday.

Inflation and better fixed costs from unwinding inventory hit its earnings within the last three months, in response to the slides published on its website, resulting in a margin decline year-on-year versus last yr’s levels.

The slides were presented during a call with investors that was not open to the press during a closed period on company information ahead of its annual results, which shall be released on March 14.

BMW cut its outlook for the yr to 6-7% from 8-10% in September and reported a 61% drop in its third-quarter profit last yr, missing analyst expectations due to slumping China sales and brake problems.

(Reporting by Victoria Waldersee, Editing by Miranda Murray)