BMW reaps $5.7 billion in profit, warns on parts shortages

FRANKFURT, Germany (AP) — Germany’s BMW is reporting 4.8 billion euros in profit for the second quarter. The earnings report Tuesday rounds out a strong earnings season for Germany’s three big automakers as global auto markets continue to recover from the pandemic — particularly when it comes to luxury cars. The company warned however that shortages of electronic parts could make production and sales for the rest of the year “volatile.” The quarterly profit follows strong results for Daimler AG’s Mercedes-Benz and for Volkswagen’s upmarket brands Audi and Porsche.