BMW Beats Pre-Pandemic Earnings, but Chip Troubles Hit Fourth Quarter

BMW Beats Pre-Pandemic Earnings, but Chip Troubles Hit Fourth Quarter

BERLIN—BMW more than doubled pre-pandemic earnings in 2021 to 16 billion euros ($17.67 billion), the company said on Thursday, as higher prices and strong sales of top-end cars boosted revenue despite supply chain constraints.

The premium carmaker, which sold a record 2.52 million vehicles last year despite semiconductor shortages, reported a 10.3 percent earnings margin for the year, its highest since 2017.

Still, earnings before interest and taxes (EBIT) in its automotive segment took a 4.2 percent hit in the fourth quarter as the global chip shortage, which BMW has so far weathered better than competitors, caused a…

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