Munich's BMW raises annual profit forecast as higher prices ease chip shortage frets - NewsBreak

BMW or Bayerische Motoren Werke AG, the Munich-based German multinational manufacturer of wide-ranging luxury vehicles with high-profile subsidiaries like of BMW Motorrad alongside Rolls-Royce Motor Cars among others, had raised its full-year profit margin forecast between 9.5 per cent to 10.5 per cent from a prior range of 7.0 per cent to 9.0 per cent, as a price hike in new and used vehicles appears to have eclipsed a global-scale supply chain constrain, the German automaker had said in an ab lib statement on Thursday.