Munich – BMW’s profit declined 2.5 percent in the first quarter on investment in new technologies like self-driving cars to defend its status as the world’s biggest maker of luxury vehicles.

Earnings before interest and taxes slipped to 2.46 billion euros ($2.84 billion) from 2.52 billion euros a year earlier, the Munich-based manufacturer said on Tuesday in a statement. The figure fell short of the 2.52-billion-euro average of eight analyst estimates compiled by Bloomberg.