The automaker's guidance mirrored that of competitors such as Mercedes-Benz, which also raised their earnings forecast but warned that the macro environment will continue to put pressure on production.
BMW currently expects profitability to EBIT in the Automotive division will be 9-10.5% from 8-10% previously, and expects shipments to pick up only marginally versus previous guidance based on a strong order bank and improved availability of premium vehicles.
The automaker reported preliminary data of a 12.6% group pre-tax margin in the first half of the year and a 10.6% EBIT margin in the automotive segment, supported by higher sales and prices.
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