BMW cars business gets earnings boost from price hikes

📆 04/05/2023 08:10:00
📰 Reuters

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BMW reported a higher earnings margin for its cars segment on Thursday, with a rise to 12.1% in the first quarter from 8.9% a year earlier, but kept its outlook unchanged in the face of ongoing high costs and rising competition.

reported a higher earnings margin for its cars segment on Thursday, with a rise to 12.1% in the first quarter from 8.9% a year earlier, but kept its outlook unchanged in the face of ongoing high costs and rising competition.

Sales were down 1.9% in Europe and 6.6% in China, attributed to inflation and the after-effects of the coronavirus pandemic - but an upward trend was visible in March and April, BMW said.

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