BMW on Wednesday reported rising profitability in the last quarter despite slowing Chinese sales and the impact of tariffs, offering some rare good news for Germany’s beleaguered auto sector.

The premium carmaker also welcomed “positive signals” after China said it would exempt some Nexperia chips from an export ban which had sparked warnings of production stoppages from European manufacturers.

CEO Oliver Zipse said BMW was proving itself “resilient” despite numerous difficulties.

These included “a shifting geopolitical framework with trade impacts such as tariffs, as well as a rapidly evolving market in China,” he said.

In the July-September period, BMW posted an operating profit margin in its auto unit, closely watched by investors, of 5.2 percent, compared to 2.3 percent in the same

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