BMW Sale Booming in China

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Jason Chow, China Revs Up BMW’s Sales. Scene Asia (a brand of Wall Street Journal), Aug 2, 2011.
http://blogs.wsj.com/scene/2011/08/02/china-revs-up-bmws-sales/

Quote:

"Over the first six months of the year, BMW sold 121,614 cars in China. That figure represents 27% of the global total and is also 61% higher than the sales in China for the first six months of 2010. * * * BMW has been able to lower its costs because it has shifted some of its production to China, allowing it to avoid having to pay import tariffs on its products. * * * BMW still trails Audi as the top luxury car brand in China.

"The growth in the luxury market stands in contrast to stalled growth among the lower-end segment, mostly dominated by domestic carmakers. Chinese auto company BYD, for example, said last month its first-half profit fell 95% because of the cancellation of government subsidies for small cars.


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