BERLIN—BMW beat analysts’ forecasts on Wednesday with a 42.4 percent increase in third quarter net profits to 2.58 billion euros ($2.99 billion) as higher prices and strong electric vehicle (EV) sales offset lower deliveries due to scarce chips.
In an earnings call, finance chief Nicolas Peter said the company was confident of topping its target for a 10 percent margin on pre-tax earnings this year, though the fourth quarter could be slightly dampened by higher tax payments and investment costs.
