BMW and Stellantis report big jumps in profit as car sales snap back.

The worldwide automobile market is rebounding strongly regardless of shortages of key parts like semiconductors. That was the message Tuesday from German carmaker BMW and Stellantis, which owns Jeep, Peugeot and Fiat, as each reported massive will increase in revenue.

BMW stated it made a internet revenue of 4.8 billion euros, or $5.7 billion, within the second quarter of 2021 in contrast with a loss a yr earlier, when the pandemic pressured showrooms all over the world to shut. Gross sales soared 43 p.c to twenty-eight.6 billion euros, pushed by significantly robust will increase in China and the USA, BMW stated. Each gross sales and revenue had been greater than the identical quarter in 2019, earlier than the pandemic struck.

Stellantis, the product of a merger this yr of Fiat Chrysler and the French maker of Peugeot and Citroën vehicles, reported a internet revenue for the primary six months of 2021 of 5.9 billion euros, in contrast with a loss a yr earlier, after gross sales rose 46 p.c to 75 billion euros.

The Stellantis figures are primarily based on a calculation of what the mixed corporations’ gross sales and earnings would have been within the first half of 2020, had the merger already taken place. Stellantis didn’t publish quarterly figures.

On the similar time, each corporations, which between them make use of greater than 400,000 individuals, warned {that a} world scarcity of semiconductors is constant to disrupt manufacturing.

Nicolas Peter, the chief monetary officer of BMW, advised reporters throughout a convention name that the chip famine may curtail manufacturing by as a lot as 90,000 automobiles this yr.

That’s on prime of different dangers, together with additional waves of the pandemic, greater costs for uncooked supplies like metal, and excessive climate just like the floods in western Germany final month that killed practically 200 individuals. “Confronted with all these dangers,” stated Oliver Zipse, the chief govt of BMW, “the second half-year shall be more difficult for the BMW Group than the primary.”

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