BMW plans to reach double digit sales in China next year, the biggest auto market in the world where the luxury segment is 15% of the sales.
BMW is currently building its second plant in northeast China, which will double the automaker’s capacity to 200,000 vehicles ad later to 300,000 vehicles. The company plans to sell 1 million vehicles in the country in the following three years and revive China’s luxury car market, which has slowed down over the past years.
“We have sold 1 million cars in China so far. We will strive to sell another million in the next three years,” said Duan Jianjun, deputy sales chief at BMW’s venture.
During the first ten months of the year BMW’s sales in China have increased 35% compared with the same period last year, which is five times more than the growth rate of the overall market, managing to surpass Mercedes-Benz’s 8% growth and Audi’s 31.2%.
Daniel Kirchert, senior vice president at BMW’s China venture, said that the joint venture plans to develop a China-only vehicle, but did not offer more details about this project. It is known that BMW and Brilliance aim at manufacturing a 200,000 4-cylinder, 2-litre petrol engines annually at the plant located in Shenyang.