Pursuits
BMW Leads Drop by Carmakers on China Slowdown: Frankfurt Mover
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Bayerische Motoren Werke AG, Daimler AG and Volkswagen AG dropped on signs that growth in China’s auto market may be slowing more than previously forecast, leading to an increase in auto discounting.
Total vehicle deliveries may fail to increase by even 5 percent because of the “difficult” economic backdrop, Gu Xianghua, a deputy to the China Association of Automobile Manufacturers’ secretary general, said at a conference today, citing his personal opinion. The organization’s official forecast is for 8 percent sales growth in 2012.