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Tire Trailblazer
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April 23, 2010, 5:14 AM EDT
April 23 (Bloomberg) -- Bayerische Motoren Werke AG, the world’s largest luxury-car maker, plans to sell 20 percent more vehicles in China this year than originally forecast as it rolls out a sedan designed exclusively for Chinese buyers.
The automaker will sell 120,000 BMW, Mini, and Rolls-Royce vehicles in China in 2010, compared with an earlier target of 100,000 units, Chief Executive Officer Norbert Reithofer told reporters today at the Beijing Auto Show. BMW sold 90,500 cars and sport-utility vehicles in China last year.
BMW is expanding capacity and introducing a new extended version of the 5-Series model as it challenges Volkswagen AG’s Audi for the lead in the Chinese luxury-car market. Audi plans to deliver 200,000 cars in China this year.
Reithofer said he sees potential to produce as many as 300,000 vehicles a year in China over the long term. Capacity expansion “will always” lag sales growth, he said.
J.D. Power & Associates predicts that rapid expansion may lead to overcapacity in China in five years, with local factories producing at 66 percent of capacity by 2015, below the 80 percent level traditionally required to cover fixed costs.
Full article: BMW Raises China Sales Goal 20% to 120,000 Vehicles (Update1) - BusinessWeek
April 23, 2010, 5:14 AM EDT
April 23 (Bloomberg) -- Bayerische Motoren Werke AG, the world’s largest luxury-car maker, plans to sell 20 percent more vehicles in China this year than originally forecast as it rolls out a sedan designed exclusively for Chinese buyers.
The automaker will sell 120,000 BMW, Mini, and Rolls-Royce vehicles in China in 2010, compared with an earlier target of 100,000 units, Chief Executive Officer Norbert Reithofer told reporters today at the Beijing Auto Show. BMW sold 90,500 cars and sport-utility vehicles in China last year.
BMW is expanding capacity and introducing a new extended version of the 5-Series model as it challenges Volkswagen AG’s Audi for the lead in the Chinese luxury-car market. Audi plans to deliver 200,000 cars in China this year.
Reithofer said he sees potential to produce as many as 300,000 vehicles a year in China over the long term. Capacity expansion “will always” lag sales growth, he said.
J.D. Power & Associates predicts that rapid expansion may lead to overcapacity in China in five years, with local factories producing at 66 percent of capacity by 2015, below the 80 percent level traditionally required to cover fixed costs.
Full article: BMW Raises China Sales Goal 20% to 120,000 Vehicles (Update1) - BusinessWeek
