Brilliance China Automotive is confident about China’s car market and expects sales growth for BMW Brilliance, its joint venture with BMW AG, to reach 30% this year, media reported over the weekend.
Sales of BMW Brilliance reached 41,372 cars in the first 11 months of the year, and the full-year sales are expected to top 43,000 units, up 30% year on year. The venture posted a 25% sales growth in the first half and the growth in the second half will be higher than that.
Image by SOCIALisBETTER via FlickrThe JV makes BMW 3 Series and 5 Series sedans in the northeastern Chinese city of Shenyang, where the company is building a new plant to expand production capacity. The new factory will begin production in mid-2010 and the venture will be capable of producing 100,000 BMW sedans in four years.
China continues to support the auto market by extending its stimulus policies, including tax incentives.
“We expect China’s auto sales growth about 15-20% next year,” Brilliance China Chairman Wu Xiaoan last week, adding that BMW Brilliance will grow faster than the industry average.
Brilliance was in talks with Toyota Motor on technology cooperation for the production of the minivans, said the chairman. He added that the companies were exploring a possible joint venture.
“Brilliance will focus its resources on the BMW joint venture and minivan production to make the firm more profitable,” Wu said.
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