BERLIN, Nov 3 Reuters BMW reported on Friday a higher thirdquarter margin in its automotive segment, with sales of higherpriced and fully electric cars keeping it on course to achieve annual forecasts.

The carmaker39;s margin on earnings before interest and taxes was 9.8 in the quarter, rising to 10.8, excluding the impact of last year39;s decision to take majority control of its Chinese joint venture, BMW Brilliance Automotive BBA.

Group revenues rose 3.4 to 38.5 billion euros 40.92 billion, beating estimates of eight analysts polled by LSEG, but group net profit fell 7.7 in light of last year39;s figures having been boosted by the BBA consolidation, BMW said.

The carmaker, which has maintained a cautiously optimistic tone through the year and raised its automotive margin outlook in August, kept unchanged its positive tone on annual forecasts.

In a statement, it made no mention of high interest rates or inflation weighing on growth, in contrast to other competitors such as MercedesBenz and Porsche, which warned of a subdued market environment curbing demand.

Supply chain issues had eased, the company added, after a warning in August that they could continue throughout the year. Sales this year were up 5.1 so far.

Fully electric sales hit 15.1 in the third quarter, outstripping BMW39;s endyear target of 15.

Free cash flow for the automotive segment so far this year came in at 5.7 billion euros, near the fullyear forecast of 6 billion.

10.9410 euros

Reporting by…