BMW sees room for more growth in China's luxury car market

German carmaker BMW sees continued double-digit sales gains in China next year as the luxury car market there, at 9-10 percent of overall sales, still lags the developed world, where the luxury segment accounts for 15 per cent of the total.

The German firm, which is building a second plant in northeast China to initially double its capacity to 200,000 vehicles, later rising to 3,00,000, expects to sell 1 million cars in China over the next three years, Duan Jianjun, deputy sales chief at BMW's venture with the state-owned parent of Hong Kong-listed Brilliance China Automotive Holdings, said at the Guangzhou auto show.

China's luxury car market has lost some of its steam after years of break-neck growth, though demand for high-end cars remains robust as personal wealth grows. "We have sold 1 million cars in China so far. We will strive to sell another million in the next three years," Duan said.

BMW's China car sales grew 35 percent in January-October from a year earlier, five times the growth rate of the overall market, and topping Audi's 31.2 percent and Mercedes-Benz's 8 percent growth. Daniel Kirchert, senior vice president at BMW's China venture said separately that the venture was preparing to launch a China-only car. He did not elaborate. BMW and Brilliance plan to produce 200,000 4-cylinder, 2-litre petrol engines a year at an engine plant in Shenyang.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus