German car manufacturer BMW said on Wednesday its profits dipped in the second quarter as supply bottlenecks and Chinese lockdowns knocked production. The carmaker's profits for the period between April and June fell to €3 billion from €4.8 billion in the same period last year. BMW CEO Oliver Zipse recognised "unfavourable conditions" but said in a statement the Munich-based group had shown "a high degree of resilience". "Ongoing semiconductor supply issues and supply chain disruptions following COVID lockdowns in China", a key market for carmakers, held back production in the first half of the year, BMW said in a statement. BMW shipped just over 563,000 units in the second quarter of 2022, a drop of 19.8 per cent. Like other premium carmakers, the limits to production meant that BMW leant more heavily on its top-of-the-range models with bigger margins. The group benefited from this better "product mix" and higher prices for its vehicles, which partially offset the fall in the number of vehicles sold, BMW said. BMW said economic conditions would "remain difficult" in the second half of the year, with the war in Ukraine also disrupting supply and weighing on the...