Currently reading: BMW Group profits rise to £13.5bn despite sales dip
German firm warns that rising costs and supply issues will hamper 2022 production targets

The BMW Group more than doubled its profits to €16.1 billion (£13.5bn) in the first half of 2022 compared with the same period last year but the firm warns it will not hit predicted yearly production targets, blaming rising energy costs and part shortages.

The company, which owns BMW, Mini, and Rolls-Royce, recorded a 65.9% uplift in pre-tax profits as it sold 1,160,094 models between 1 January and 31 July, down from 1,339,047 (a 13.4% fall) in the same period last year.

Broken down, there were 1,016,228 BMWs sold (down 13.7%) and 140,675 Minis (down 10.9%), but bucking the trend was Rolls-Royce, which saw a 6.8% increase in sales from 2989 to 3191.

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