BMW expects the pace of growth of its China sales to drop to single-digits this year as the Chinese economy slows and market demand for premium cars eases.
According to Reuters, BMW is targeting growth this year of its sales of 7-8%, versus 15% achieved in 2017. “We don’t expect huge double-digit growth like in the past, we expect single-digit growth,” BMW CEO Harald Krueger told reporters.
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BMW is also planning a new alliance with Chinese carmaker Great Wall Motor (in addition to the JV it has with Brilliance) to make Mini brand cars in China.
The world premiere for the BMW Concept iX3 took place in Beijing. BMW said the company is using the concept study based on the BMW X3 Sports Activity Vehicle (SAV) to send out the message that pure-electric mobility using drive system technology developed at BMW i will soon be making its debut in the BMW core brand’s model range.
The BMW brand’s first model to be driven exclusively by electric power will be produced by the BMW Brilliance Automotive joint venture in Shenyang.
See also: BEIJING SHOW DEBUTS LIST
BMW in talks with GWM for electric MINI production in China
