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BMW confirms 2021 outlook, but sees volatility ahead By Nick Carey Reuters LONDON (Reuters) -BMW remains on course to meet its profit targets for 2021 despite rising raw material costs, the German carmaker said on Friday, having largely steered clear of the semiconductor chip shortage battering rivals like Volkswagen. Volkswagen boss Herbert Diess had said on Thursday that Europe s top carmaker was in crisis mode over the chip shortage, which would hit profits in the second quarter, while Ford Motor Co last week said the lack of chips could halve its second-quarter vehicle production. BMW is known for its strong relations with suppliers and has been working with them to avoid disruptions. Aside from a temporary shutdowns of MINI production in the United Kingdom, the carmaker has not been affected. ....
BMW confirms outlook, but says rest of 2021 to be volatile Toggle share menu Advertisement BMW confirms outlook, but says rest of 2021 to be volatile FILE PHOTO: A staff member stands near a BMW M3 GT2 vehicle displayed at the BMW booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song 07 May 2021 02:10PM (Updated: 07 May 2021 04:57PM) Share this content Bookmark LONDON: BMW reiterated its full-year profit margin outlook on Friday, but said that it expected the rest of the year to remain volatile and that rising raw material costs could hurt earnings moving forward. ....
BMW confirms its 2021 targets despite worsening chip shortages By Nick Carey Reuters LONDON (Reuters) -BMW remains on course to meet its profit targets for 2021 despite rising raw material costs, though the global chip shortage will worsen and may hit production in the second quarter, the German carmaker said on Friday. Most of the auto industry has been hit by a global semiconductor chip shortage, forcing many assembly plants to shut, driving down inventories and pushing up prices for both new and used vehicles. We cannot assume that we will emerge from the second quarter unscathed, Chief Executive Officer Oliver Zipse said. ....
BMW CFO on Apple Car: 'Competition is a Wonderful Thing' macrumors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from macrumors.com Daily Mail and Mail on Sunday newspapers.