The People’s Republic of China is getting more and more attention from car manufacturers from all over the world because of the rapid pace the car market there grows and BMW has big plans for the country: it wants to become the leader of the luxury car segment there and has a plan to achieve this goal.
China has been swallowing luxury cars with such a rapid pace that researchers are estimating 530,000 units sold this year and up to 1.1 million to be sold by 2015 and estimates have also been made regarding the growing of the car market in the country.
To prepare for the increasing demand of luxury cars from the Chinese, BMW is adding more suppliers to its network, from the present 100 up to 160. A leasing business will also take shape in 2012, with great development potential. Also, BMW is planning to increase the number of dealerships in China this year, totalling 200 locations.
These operations have been noticed on the stock market as well, as the BMW stocks have risen to 47.35 euros, with an increase of 10 cents. The company’s stocks have been on the rise, totalling 49 percent for the year 2012.