© Reuters. FILE PHOTO-BMW’s concept model i Vision Dee is unveiled during an event at the Auto Shanghai show, in Shanghai, China April 18, 2023. REUTERS/Aly Song/File Photo
BERLIN (Reuters) -BMW has lifted its annual outlook for its margin on earnings before interest and taxes (EBIT) in the automotive segment to between 9-10.5% from 8-10% previously, and expects solid growth to its deliveries, the carmaker said on Tuesday.
BMW had previously forecast just a slight growth in deliveries but adjusted this expectation upwards on the basis of a strong order bank and expected improvement in the availability of its premium vehicles, it said.
In preliminary results, the carmaker reported a group margin on earnings before taxes of 12.6% in the first half of the year and a 10.6% EBIT margin in the automotive segment, helped by higher sales and pricing.
BMW sales rose 4.7% in the first half of the year compared to last year, when supply chain issues caused by factors including the war in Ukraine and lockdowns in China dented output.
It expects inflation and supply chain issues to continue to weigh on the second half of the year, the company added.
Full quarterly results will be published on August 3.