German car manufacturer BMW expects to earn more money this year than it previously counted on. This is mainly due to the higher prices for cars, both new and second-hand.
The extra revenues compensate for the problems caused by shortages of parts, especially chips, which are disrupting production.
BMW now expects to realize a gross profit margin of 9.5 to 10.5 percent this year. In an earlier forecast, that was still 7 to 9 percent. BMW also expects to do better in return on equity than previously assumed. As a result, profit before tax will be significantly higher this year.
BMW previously warned that deliveries in the second half of the year might come under pressure as a result of chip shortages. However, so far, BMW has reported only minor production stoppages at its factories.