High prices, steady supply chain protect BMW from scarce chips

While rising raw material prices impacted earnings this year, the company's strong relationship with suppliers has cushioned the blow, chief executive Oliver Zipse said

BMW expects strong electric car sales to carry into 2022.

BMW beat forecasts with a 42% increase in third quarter profits to €2.58bn as higher prices and strong electric vehicle sales offset lower deliveries due to scarce chips.

In an earnings call, finance chief Nicolas Peter said the company was confident of topping its target for a 10% margin on pre-tax earnings this year, though the fourth quarter could be slightly dampened by higher tax payments and investment costs.