BMW announced on Thursday that it expects to hit profit targets for 2021, as the OEM reported an increase of 33.5% in its first quarter sales results. The announcement caused the company’s shares to increase slightly. In March, BMW announced its 2020 before-tax profits had fallen 27%. The year, which was marred by COVID-19, resulted in a 2.7% drop in profit margins for the company. However, BMW expects to double its profit margins in 2021. (Source: Forbes) Read the original article…
Todd Phillips is the editorial director of Universus Media Group Inc. and the editor of Canadian auto dealer magazine. Todd can be reached at tphillips@universusmedia.com.
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