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BMW mulls a mainland-only brand as sales keep booming
By Jin Jing |
March 22, 2012, Thursday
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Print Edition
Print Edition
BMW forecasted double-digit sales growth for China this year and is planning an indigenous brand for developing new energy vehicles in the world's largest auto market, according to a company executive.
Ivan Koh, president of BMW China Automotive Trading Ltd, said the German premium carmaker had a strong start in the China market with an year-on-year increase of 30 percent in sales for January.
He said BMW is expanding its facility in Shenyang, Liaoning Province, to increase the annual output to 200,000 units. Besides the models launched last year, which included the BMW X3 and BMW 1 series, the new China-produced BMW X1 and upcoming new BMW 3 series would lend additional momentum to the company, he said.
"As we grow our brands, product portfolio and capacity with further localization efforts, I believe this year would still be a very good year," Koh noted.
BMW, which expects group sales to grow in 2012 after a 14 percent year-on-year increase in February, is banking on growth in China and India to help offset sluggish European demand.
BMW, sponsoring four Chinese national sports teams in the 2012 London Olympics, is also competing with Mercedes-Benz and Audi for a bigger slice of China's luxury car segment, which may end its breathtaking growth amid slower economic expansion, higher fuel prices and government efforts to rein in foreign investment in the car-manufacturing industry to curb overcapacity.
Last year, BMW, the second largest luxury carmaker in China, boosted sales by 37.6 percent to 232,586 units in the country.
As the Chinese government gears up efforts to put more green cars on the road, BMW and its joint venture with Chinese partner Brilliance China Automotive Holdings Inc will launch an indigenous brand in the second half of this year, which will be mainly for developing new energy vehicles.
Koh said the company would bring its most advanced technology into China, without elaboration.
"China has become the third largest market for BMW in terms of sales last year," said Koh. "Our development in China would be long-term."
Last year, BMW Brilliance unveiled a plug-in hybrid version of the BMW 5-series sedan at the Shanghai auto show in April. It also has launched a road test of MINI E electric cars in China, which will be expanded to BMW Active E electric cars this year, Koh added.
The newly launched BMW X1 is the first domestically-produced SUV model of BMW in China. Equipped with BMW's latest China-made N20 engine, the model will take on Audi's Q5 and Mercedes-Benz's domestically produced GLK, which will hit the Chinese market in April this year.
Ivan Koh, president of BMW China Automotive Trading Ltd, said the German premium carmaker had a strong start in the China market with an year-on-year increase of 30 percent in sales for January.
He said BMW is expanding its facility in Shenyang, Liaoning Province, to increase the annual output to 200,000 units. Besides the models launched last year, which included the BMW X3 and BMW 1 series, the new China-produced BMW X1 and upcoming new BMW 3 series would lend additional momentum to the company, he said.
"As we grow our brands, product portfolio and capacity with further localization efforts, I believe this year would still be a very good year," Koh noted.
BMW, which expects group sales to grow in 2012 after a 14 percent year-on-year increase in February, is banking on growth in China and India to help offset sluggish European demand.
BMW, sponsoring four Chinese national sports teams in the 2012 London Olympics, is also competing with Mercedes-Benz and Audi for a bigger slice of China's luxury car segment, which may end its breathtaking growth amid slower economic expansion, higher fuel prices and government efforts to rein in foreign investment in the car-manufacturing industry to curb overcapacity.
Last year, BMW, the second largest luxury carmaker in China, boosted sales by 37.6 percent to 232,586 units in the country.
As the Chinese government gears up efforts to put more green cars on the road, BMW and its joint venture with Chinese partner Brilliance China Automotive Holdings Inc will launch an indigenous brand in the second half of this year, which will be mainly for developing new energy vehicles.
Koh said the company would bring its most advanced technology into China, without elaboration.
"China has become the third largest market for BMW in terms of sales last year," said Koh. "Our development in China would be long-term."
Last year, BMW Brilliance unveiled a plug-in hybrid version of the BMW 5-series sedan at the Shanghai auto show in April. It also has launched a road test of MINI E electric cars in China, which will be expanded to BMW Active E electric cars this year, Koh added.
The newly launched BMW X1 is the first domestically-produced SUV model of BMW in China. Equipped with BMW's latest China-made N20 engine, the model will take on Audi's Q5 and Mercedes-Benz's domestically produced GLK, which will hit the Chinese market in April this year.
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