BMW remained profitable in 2020 with strong second half

FRANKFURT, Germany (AP) — BMW saw profits fall by 23% last year as the pandemic shuttered factories in the early part of the year. But the company said Thursday that earnings bounced back strongly in the second half. The Munich-based maker of BMW, Mini and Rolls-Royce cars made 3.86 billion euros in net profit. The strong recovery from the virus outbreak in China helped that figure. China is the company’s biggest single market and sales there rose even above the pre-pandemic year. On top of that, the company is selling more cars in the top end of its price range _ where profits are higher. CEO Oliver Zipse said the company started 2021 with a “favorable tailwind.”