BMW is relying on the persistent demand for premium vehicles in China to increase its sales in the second half of the year, even if to a lesser degree than the first half, the company’s chief of sales, Ian Robertson, disclosed.
He stated that for the second half of the year, the company will not have a fast growth rate in China similar to the first half due to the high year-earlier level of comparison.
However, the company will still have growth, Robertson said. He added that car sales in the Chinese market may expand by a low double-digit percentage.
During the first half of the year, the company’s car sales in China increased by 61 percent. In early July, the company increased its profit target for this year because of the booming sales in China as German vehicle companies were quicker at tapping into growth in emerging markets compared to their competitors.
Moreover, rising lifestyles in the most populated countries in the world such as Russia, China and India are opening up new markets for luxury and premium brands.
Mercedes-Benz, Volkswagen and BMW have mentioned that their car sales for the first half of the year had never been higher and that they were increasing at double-digit rates. BMW is China’s second largest luxury vehicle company after Volkswagen’s Audi unit.
According to Robertson, BMW sells larger vehicles than Audi; thus, it is “not a primary target to push them out of pole position.” He added that BMW was relying on growth across regions to avoid being too dependent on individual markets like China.