Retail in Asia

In Sectors

China’s BMW demand outstrips supply

Soaring Chinese demand for BMW cars has outstripped local production capacity, requiring the world’s leading premium automaker to ramp up exports of German-made vehicles. BMW plans to ship 10,000 of its 3 Series models from Munich to the Chinese markets, personnel director Harald Krueger told the Financial Times Deutschland.

In the first half of this year, China sales more than doubled and Krueger acknowledged that "we did not expect such strong growth". In late April, the company raised its sales target for the country, now the world’s leading auto market, to 120,000 vehicles this year from 100,000 last year.

BMW said this year’s pretax profit would "rise more sharply than previously forecast", as sales volumes increase around 10 percent to more than 1.4 million vehicles as opposed to the "solid" single-digit gain first expected.

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(Source: scmp.com)