There is no stopping for BMW in China right now
Quadruple the production capacity
BMW are so confident in their own ability and that of the Chinese sales market that they are prepared to quadruple their production capacity in the country.
At the moment the luxury car market in China is booming. Sales are reaching record highs despite the fact the Chinese economy is not growing as fast as before. BMW seem to be immune from economic downturns throughout the world.
The great potential of the Chinese automotive industry
The Chinese automotive industry is the biggest in the world at the moment. It is set to increase to a total of 30 million by 2020. Some sources have suggested that the number of cars will increase by 40 million. The luxury car market is set to play a major role in that. A huge chunk of that figure is expected to be luxurious vehicles such as BMW, Audi and Mercedes-Benz’s. Those estimations do not sound too bad considering that there have been many critics of the current growth rate within the Chinese automotive industry.
Showing off their wealth
Motorists in China want to show off their wealth with the purchase of their vehicle. Buying patterns and consumer habits within the automotive industry have somewhat changed dramatically in the last 10 years.
Sales growth for BMW
BMW sales so far in China are up by a magnificent 35 per cent. It has predicted by experts that BMW will report an end of year sales increase of 25 to 30 per cent which would represent a magnificent increase.
The Beijing Motor Show
The Beijing Motor Show saw the unveiling on the long wheel base version of the new generation BMW 3 Series.
400,000 every year
A brand new production plant based in Shenyang is set to be unveiled as part of a $1.5 billion investment from the company. This will allow BMW to produce 400,000 every year, helping to meet the ever increasing demand.
However before anyone gets carried away, it is important to remember that Audi are indeed the luxury car market leaders in China. Their sales hit record highs and China is now the leaders for Audi’s car market. However as Audi are associated with many Government vehicles, the younger generation of buyers have been put off somewhat. Can BMW take advantage?