BMW’s annual automotive margin beats expectations

(Reuters) – BMW reported a higher annual margin in its core automotive segment on Thursday, driven by full consolidation of its Chinese joint venture BMW Brilliance Automotive (BBA) and better sales volumes.

The carmaker’s margin on earnings before interest and taxes (EBIT) was 9.8% in 2023, versus 8.9% expected in the company-provided consensus.

(This story has been corrected to change ‘in the quarter’ to ‘in 2023’ in paragraph 2)

Reporting by Andrey Sychev, Editing by Rachel More