BMW raises 2023 outlook on strong orders

FRANKFURT: German automaker BMW on Tuesday lifted its 2023 earnings forecast on the back of higher orders and “an expected improvement in the availability of its premium vehicles”.

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The group said it now expected a pre-tax profit margin (EBIT) of 9 to 10.5 percent, compared with 8-10 percent previously. Deliveries are expected to see “solid growth”, it added, after earlier pencilling in only “slight growth”.