BMW beats pre-pandemic earnings, but chip troubles hit fourth quarter:
The premium carmaker, which sold a record 2.52 million vehicles last year despite semiconductor shortages, reported a 10.3% earnings margin for the year, its highest since 2017.
Quarterly net profit for the group came in at $2.04 billion, a third higher than last year but well below 2019 levels of $4.54 billion. French carmaker Renault, Stellantis as well as Swedish Volvo were all among the worst performers of their respective indexes on Thursday. Mercedes-Benz, for example, registered a 24.7% fall in deliveries in the fourth quarter of 2021 but still boosted its EBIT by 12% in its cars and vans division.
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