Home / BMW / BMW China venture’s vehicle sales to rise 20 percent in 2017.

BMW China venture’s vehicle sales to rise 20 percent in 2017.

REUTERS/Kim Kyung-HoonBy Raffaele HuangHONG KONG (Reuters) – Sales for German automaker BMW AG’s (BMWG.DE) China venture are expected to rise at least 20 percent year-on-year in 2017, the premium automaker’s local joint venture partner said on Friday.
BMW, whose China sales grew 11.3 percent last year, is the country’s second-largest premium brand after Volkswagen AG’s (VOWG_p.DE) Audi AG and is racing to stay ahead of third-place Daimler’s (DAIGn.DE) Mercedes-Benz, which recorded 26.6 percent growth in 2016 China sales thanks to a fresher model lineup.
A man takes a look at BMW cars at a dealer shop in Beijing, China, September 11, 2015.
In 2017, premium vehicle sales are predicted to outperform China’s overall auto market, which is expected to slow as a tax cut on small-engined cars is rolled back and the economy continues to slow.
Global automakers must form local JVs in order to manufacture cars in China.

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BMW China venture’s vehicle sales to rise 20 percent in 2017

BMW China

Brilliance China Automotive Holdings Chairman Wu Xiaoan speaks during a news conference on the company’s annual results in Hong Kong, China March 24, 2016.
REUTERS/Bobby YipHONG KONG Sales for German automaker BMW AG’s (BMWG.DE) China venture are expected to rise at least 20 percent year-on-year in 2017, the premium automaker’s local joint venture partner said on Friday.
BMW, whose China sales grew 11.3 percent last year, is the country’s second-largest premium brand after Volkswagen AG’s (VOWG_p.DE) Audi AG and is racing to stay ahead of third-place Daimler’s (DAIGn.DE) Mercedes-Benz, which recorded 26.6 percent growth in 2016 China sales thanks to a fresher model lineup.
In 2017, premium vehicle sales are predicted to outperform China’s overall auto market, which is expected to slow as a tax cut on small-engined cars is rolled back and the economy continues to slow.
The full-year estimate is based on a 44 percent year-on-year rise in the first two months of 2017, Chairman Wu Xiaoan of Brilliance China Automotive Holdings (1114.HK), BMW’s 50-50 joint venture partner, told reporters in Hong Kong.

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BMW China venture’s vehicle sales to rise 20 percent in 2017 – Metro

BMW China

By Raffaele HuangHONG KONG (Reuters) – Sales for German automaker BMW AG’s China venture are expected to rise at least 20 percent year-on-year in 2017, the premium automaker’s local joint venture partner said on Friday.
BMW, whose China sales grew 11.3 percent last year, is the country’s second-largest premium brand after Volkswagen AG’s Audi AG and is racing to stay ahead of third-place Daimler’s Mercedes-Benz, which recorded 26.6 percent growth in 2016 China sales thanks to a fresher model lineup.
In 2017, premium vehicle sales are predicted to outperform China’s overall auto market, which is expected to slow as a tax cut on small-engined cars is rolled back and the economy continues to slow.
The full-year estimate is based on a 44 percent year-on-year rise in the first two months of 2017, Chairman Wu Xiaoan of Brilliance China Automotive Holdings , BMW’s 50-50 joint venture partner, told reporters in Hong Kong.
China’s auto market, the world’s largest, is entering a “tiny growth era”, Brilliance Chief Executive Qi Yumin said at the briefing.

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