BMW’s September sales in China increased 59%, a relief for the investors who believed that the world’s biggest auto market is slowing.
Last month sales of BMW and Mini-brand were up 59% to 29,631, thanks to increased demand for the extended version of the 3- Series sedan and the X1 compact SUV. Form January to September BMW sold in China 237,056 cars, up 34% compared with the same period last year.
“This strength has legs to it,” said David Arnold, an auto-industry specialist with Credit Suisse in London. “China’s still a growth market, but the market’s normalizing, which is what we need.”
BMW’s rivals, Volkswagen’s Audi and Daimler’s Mercedes-Benz also reported strong sales last month, even if the market shows signs of weakness. This year the country’s services industry expanded at its slowest rate and the manufacturing industry decreased for 11 consecutive months.
BMW hit the highest close since September 21st, increasing 3.2% to 59.76 euro in Frankfurt, Daimler was up 1.2% to 38.505 euro, while VW gained 2.9% to 45.35 euro. Audi reported September sales in China up 20% to 35,512 units, while Mercedes sold 16,806 units, up 10%.