BMW Reaps $5.7 Billion in Profit, Warns of Semiconductor Shortages


Lots of car companies publishing their financial numbers this week. BMWs results are out. So Andrew, have they done? Well in April, May June last year, they lost money and April May June this year, they turned that loss of €212 million into a profit of nearly €5 billion. That's better than expected. And the company is also raising its outlook is saying that he thinks that the best of the rest of the year will probably be better. And then they previously thought, although they say there's a lot of volatility around, Uh and that's caused by things like prices of raw materials. They're going up an awful lot. At the moment. There's shortages is The as the the pandemic of draws to a close. Hopefully, there's a lot of people chasing not many materials, especially to fork and silicon chips, computer chips that are used increasingly in cars. It's probably worth watching companies like BMW, the premium end the You know the famous expensive brands. Because they've been very good at using things like computer chips to make expensive cars, so their profit margins are probably better than some of the the mass carmakers that

Coming up next