BMW Q1 profit lifted by Chinese joint venture, strong pricing By Reuters

LONDON (Reuters) – BMW said on Thursday its first-quarter profit soared thanks to a reevaluation of the German carmaker’s stake in its Chinese joint venture, while strong pricing offset lower sales hit by supply chain issues.

The company reported a net profit of 10.2 billion euros ($ 10.8 billion) versus 2.8 billion euros a year earlier. Excluding the impact of the stake in its joint venture with Brilliance Auto Group, BMW reported an operating profit of 3.4 billion euros, up from 3 billion euros a year earlier.

($ 1 = $ 0.9422)