Tuesday October 26, 2021

Semiconductor shortage hits BMW sales in Q3

Published : 07 Oct 2021, 22:49

  DF News Desk

BMW logo is pictured on a car at the Automobile Barcelona motor show. File Photo: Clara Margais/dpa.

Upmarket German carmaker BMW saw third-quarter production hit by the semiconductor shortages experienced by most major manufacturers but was nevertheless able to sell 593,000 cars from its three brands, reported dpa.

The supply situation was likely to remain tight, so "effects on sales cannot be ruled out over the months ahead," BMW said in Munich on Thursday. Apart from cars with the BMW badge, the company also makes Mini and Rolls-Royce cars.

The total came in down 12 per cent down on the same period last year, whereas competitor Mercedes-Benz has posted a fall of as much as 30 per cent for the same period.

BMW sales head Pieter Nota expressed "confidence that we will achieve our ambitious sales targets" for the year as a whole. BMW upped its profit predictions a week ago on the basis of strong demand and rising prices for new vehicles.

Over the first nine months, the company sold a total of 1.932 million vehicles, up 18 per cent on last year, when production was hit by the pandemic.

In the July-September quarter, Mercedes-Benz sold 428,000 vehicles, down 30 per cent on the year, attributing this to shortages of semiconductors.

It warned from its Stuttgart headquarters that continuing problems "will probably have effects on production and sales in the quarters ahead as well."

The third major producer in the luxury segment, VW subsidiary Audi, is to publish its sales figures only at the end of the month.