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Why BMW's Profit Boomed Despite the Global Chip Shortage

·4 min read
Why BMW's Profit Boomed Despite the Global Chip Shortage
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German automaker BMW (OTC: BMWYY) (OTC: BAMXF) reported a strong second-quarter profit and raised its full-year earnings guidance on Aug. 3, while warning that the ongoing global semiconductor shortage and higher commodity prices could dent its second-half results. BMW got very good prices for those vehicles, too, as customers flocked to its relatively well-stocked dealer lots.