BMW Beats Pre-Pandemic Earnings, but Chip Troubles Hit Fourth Quarter

BMW Beats Pre-Pandemic Earnings, but Chip Troubles Hit Fourth Quarter
The headquarters of German luxury carmaker BMW is seen in Munich, Germany, on Aug. 5, 2020. Michael Dalder/Reuters
|Updated:

BERLIN—BMW more than doubled pre-pandemic earnings in 2021 to 16 billion euros ($17.67 billion), the company said on Thursday, as higher prices and strong sales of top-end cars boosted revenue despite supply chain constraints.

The premium carmaker, which sold a record 2.52 million vehicles last year despite semiconductor shortages, reported a 10.3 percent earnings margin for the year, its highest since 2017.