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BMW raises target for 2021 after strong third quarter

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Upmarket German carmaker BMW posted sharply increased profits in the third quarter – despite continuing problems with sourcing computer chips – on the back of higher sales prices, in results released in Munich on Wednesday. Profits for the quarter rose by 42 per cent to 2.58 billion euros (2.99 billion dollars), a new record. The semiconductor shortage throughout the automotive sector has led to a shortage of vehicles for sale and higher prices as a result. “We are on target for our annual prediction and look to the future with confidence,” chief financial officer Nicolas Peter said. The BMW g…

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