BMW will exceed its Chinese 2010 sales target, says Ian Robertson

Article by Christian Andrei, on October 4, 2010

At the Paris Motor Show, Ian Robertson, BMW’s board member for marketing and sales, said that the company will surpass its 2010 sales target for the market in China. Robertson said that BMW will exceed the forecast it made last April that BMW Group sales will reach 120,000 units in China this year.

Robertson explained that BMW is raising its expectations because of the “extremely positive development in this market.” China took over the title of world's largest auto market last year from the US. As wages and living standards rise, the demand for high-end luxury cars has also climbed.

The rise in car demand in China has aided BMW to rise above the economic crisis. BMW’s profit of 831 million euros in the second quarter of this year was its biggest in 2.5 years.

Analyst Max Warburton of Bernstein Research said that China's premium car market is expected to double in size by 2015 from its 2009 level of 400,000 units.

BMW forecasts that the premium market in China will expand by about 4.5% annually until 2022, exceeding growth prospects in more developed markets.

We announced back in April that we would sell 120.000 BMW Group vehicles in China this year. Due to the extremely positive development in this market, we are currently revising these figures upwards,” Robertson said. [via autonews - sub. required]

Topics: bmw, china, sales

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Amazon is now moving beyond the four corners of online retailing. Only recently, the retail giant has been awarded a patent for its Road Network system. Since the patented technology...
by - January 20, 2017
The newest version of the Lamborghini Huracan is not a Superleggera, but a Performante. When Lamborghini filed for a patent for a new name, there were still debates whether this...
by - January 20, 2017
What is hotter and more menacing than a Hellcat? If we ask Dodge, its answer would be the “Demon.” Of course, we aren’t talking about a demon with horns and...
by - January 20, 2017
The 2018 model year could be an exciting year for fans and enthusiasts of the Chevrolet Corvette. This comes as the 2018 version of the Corvette is bound to feature...
by - January 19, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries