China Is Now BMW’s Second Largest Market, topping the US
The People’s Republic of China is getting more and more attention from car manufacturers all over the world because of it’s stable economy and open market. BMW is included in this trend and has planned ahead accordingly.
BMW has planned to reach 120,000 units sold in China for the year 2010, with 30,000 units more than the last year. We think that figure can be topped, as BMW already sold more than 75,000 units in the first half of the year.
Apparently, China’s market, the premium segment included, has a really good vibe this year, exceeding all expectations, according to BMW CEO in China, Christoph Stark. This is because car sales have reached new heights last year, reaching 13.6 million units sold, China becoming the biggest car market in the world, after having topped the United States. For the year 2010, 15 million units are expected to be sold in China, a 10% increase.
Unlike other markets that have declined due to the economic crisis, China’s market simply ignored it and kept rising to new heights, reaching where you see now, China becoming BMW’s second biggest market.