BMW plans to step up component localisation in China and will launch six more models specifically designed for the market in the next few years. It already makes special long wheelbase models there.
The company last year extended its joint venture agreement with local partner Brilliance Auto “ahead of time” until 2028 reflecting the growing importance of China for the automaker.
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The Shenyang joint venture currently produces three models – 3-series, 5-series and X1 compact SUV. Sales increased by close to 17% to 456,732 units last year, equivalent to almost 25% of global sales.
China is now BMW’s largest single market, followed by the US, Germany and the UK.
The company said it would continue to launch new models in China to help maintain growth levels even as economic growth continues to moderate. It will target the entry level premium segment in particular which it expects will outperform in the medium term.
BMW will also focus on strengthening its small and medium size dealers in China by providing additional support including access to consumer finance.
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