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BMW’s deliveries fell 12.2% in the third quarter but revenues were still up by 4.5%. EVs in particular saw a significant boost, with sales in the nine months to September almost double last year’s levels at just under 232,000 vehicles.

“A better product mix and good price setting of new vehicles alongside a stable pricing trend of used vehicles strengthened the financial performance of the business,” a company statement said.

Still, Peter said the lack of chips was “by no means a blessing” due to the tens of thousands of cars the company could have sold but could not produce.

The finance chief said earlier this year the company expected to deliver up to 90,000 fewer cars in 2021 because of a lack of chips.

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