BMW profits rise to €3.4bn as focus turns to more expensive cars

Carmaker is overcoming difficult situations', including global shortage of computer chips

BMW earned bigger profits than expected in the third quarter of 2021 after a focus on more expensive cars and electric vehicles helped the German premium carmaker to ride out a global shortage of computer chips.

Profits before tax rose to 3.4bn (2.9bn) between July and September, a 38% increase compared with 2020 and a 52% increase on 2019, before the coronavirus pandemic hit, BMW said on Wednesday.