BMW reports significant profit growth in 2021

© Reuters. FILE PHOTO: A logo of the German luxury car manufacturer BMW can be seen ahead of the company’s annual press conference in Munich

BERLIN (Reuters) – The German carmaker BMW expects on Wednesday a significant increase in the group’s pre-tax profit in 2021 compared to the previous year, as it forecasts strong performance in all segments.

BMW, which also owns the MINI and Rolls-Royce (OTC 🙂 brands, expects a solid year-over-year increase in deliveries for the automotive segment, with the segment’s EBIT margin expected to rise between 6% and 8%.

Around 90% of the market segments will have all-electric models by 2023, and the BMW i4 model will be launched three months ahead of schedule, the automaker said in a statement.

“The BMW Group has ambitious plans for 2021,” said CEO Oliver Zipse. “We started the new year with strong momentum and want to return to the pre-crisis level as quickly as possible – and go further.”

The BMW share gained 2.2% in pre-market trading at Lang & Schwarz.

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