BMW targets higher profit, auto margin for 2021 - MarketWatch

BMW AG said Wednesday it expects positive business development this year, targeting an increase in pretax profit and a higher auto margin.

The German luxury car maker said profit before taxes for the group should be significantly higher than in 2020, and it projected earnings before interest and taxes margin for the automotive segment at between 6% and 8%.

The car maker's auto EBIT margin fell to 2.7% in 2020 from 4.9% in 2019.

Global deliveries to customers in the automotive segment are also expected to show a solid increase this year compared with the prior year, BMW said.

BMW reported lower earnings and revenue for the full-year 2020 earlier this month.

Write to Kim Richters at kim.richters@wsj.com

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