LONDON -- Rising raw material prices, in particular for rhodium, palladium and steel, could cost BMW an additional 1 billion euros ($1.21 billion) in 2021.
The higher raw material costs will be partly offset by favorable currency exchange rates, so the net impact will be about 500 million euros, the company's chief financial officer, Nicolas Peter, said in a conference call on Friday.
His comments came after BMW reiterated its full-year profit margin outlook but said that it expected the rest of the year to remain volatile.
