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BMW covers low deliveries with high prices, EV sales

Higher prices and strong electric vehicle (EV) sales helped German automaker BMW AG beat analystsโ€™ forecasts yesterday with a 42.4 percent year-on-year increase in third-quarter net profit to 2.58 billion euros (US$2.99 billion). The premium automaker, which said earlier this year it expected to deliver up to 90,000 fewer vehicles this year because of a global shortage of semiconductors, saw deliveries fall 12.2 percent in the third quarter, but still boosted revenues by 4.5 percent. Electric ...
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