Sales of BMW AG vehicles in the Chinese market are expected to increase by a "strong double-digit" percentage and to exceed 100,000 vehicles this year, according to media reports.
The world's biggest maker of luxury cars wants to exploit the sales growth in China and other emerging markets. It plans to deliver more than 1.3 million vehicles worldwide this year and to sell more than 2 million cars and SUVs by 2020.
BMW is predicting that a revamped 5-Series sedan would be able to attract buyers in BMW's big markets and as a result, it would achieve a "sharp" gain in profit in 2010.
At BMW's Munich headquarters, Chief Executive Norbert Reithofer told said that he wants to see "visible progress in 2010" toward achieving its profitability targets for 2012.
BMW aims to become the "most successful premium car maker." Last year, BMW sold 90,536 cars in China, a 38% increase. This means that the Philippines is still its third biggest market.
China's luxury car segment has BMW competing with Audi and Mercedes-Benz brands. In 2009, Volkswagen's Audi sold 158,941 cars in China, up 32.9%, and Daimler AG's Mercedes-Benz sold 68,500 units, up 77%.
For sales to finally break the 100,000-unit mark, BMW expects its China sales this year to rise by more than 10%. To expand capacity at its local venture with Brilliance China, BMW is investing 600 million euros in order to raise production to 300,000 vehicles, from 41,000 units.
The new factory of BMW Brilliance will roll out the BMW X1 SUV and other models, including the BMW 1 Series and stretched BMW 3 Series. In addition, BMW will launch a longer version of the 5-Series exclusively for China later his year.