© Reuters. FILE PHOTO: The logo of German automaker BMW is seen in Brussels, Belgium June 1, 2023. REUTERS/Yves Herman/FILE PHOTO
(Corrects to read “in 2023” (not “in the quarter”), paragraph 2)
(Reuters) – BMW (ETR:) 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)
This story originally appeared on Investing
