BMW’s Chinese Sales Jump, Reducing Concerns of Slowdown
Bayerische Motoren Werke AG (BMW)’s car sales in China surged in September, easing investors’ concerns that the world’s biggest automotive market is slowing and sending the manufacturer’s shares to a two-week high.
Deliveries jumped 59 percent to 29,631 BMW- and Mini-brand vehicles last month on demand for the extended version of the 3- Series sedan and the X1 compact sport-utility vehicle, Linda Croissant, a spokeswoman at the Munich-based company, said by telephone. In the first nine months of 2012, BMW’s Chinese sales climbed 34 percent from a year earlier to 237,056 cars.
“This strength has legs to it,” said David Arnold, an auto-industry specialist with Credit Suisse in London. “China’s still a growth market, but the market’s normalizing, which is what we need.”
Volkswagen AG (VOW)’s Audi unit and Daimler AG (DAI)’s Mercedes-Benz, which rank behind BMW in global luxury-car sales, also posted stronger demand in September in China, even as the country’s economy shows signs of cooling. China’s services industry expanded at the slowest rate in more than a year in September, and manufacturing has contracted for 11 consecutive months.
BMW rose 3.2 percent to 59.76 euros in Frankfurt, the highest close since Sept. 21. Daimler gained 1.2 percent to 38.505 euros, and VW increased 2.9 percent to 145.35 euros.
Audi said yesterday that September sales in China advanced 20 percent to 35,512 vehicles. Deliveries by Stuttgart, Germany- based Mercedes totaled 16,806 cars and SUVs in China, a gain of 10 percent.
To contact the reporter on this story: Chris Reiter in Berlin at creiter2@bloomberg.net
To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net
BMW’s Surge in China Sales Reduces Auto-Market Slowdown Concerns
Guenter Schiffmann/Bloomberg
BMW's car sales in China surged in September, easing investors’ concerns that the world’s biggest automotive market is slowing and sending the manufacturer’s shares to a two-week high.
BMW's car sales in China surged in September, easing investors’ concerns that the world’s biggest automotive market is slowing and sending the manufacturer’s shares to a two-week high. Photographer: Guenter Schiffmann/Bloomberg
May 24 (Bloomberg) -- Ian Robertson, global head of sales and marketing at Bayerische Motoren Werke AG, unveils the BMW 335Li, a long-wheelbase version of the company's 3-Series sedan, at the Beijing auto show on April 19. The stretched 3-Series, made uniquely for the Chinese market, is 11 centimeters (4.3 inches) longer than the regular model and is part of a broader effort by German luxury-car makers to sell more cars targeted toward first-time buyers in China. (Video is courtesy of BMW AG. Source: Bloomberg)
May 24 (Bloomberg) -- The BMW X1 compact sport-utility vehicle is seen in a promotional video from Bayerische Motoren Werke AG. The world’s largest maker of luxury vehicles will start production of the X1 today at a new factory in China, part of a 1 billion-euro ($1.27 billion) expansion in the country. (Video is courtesy of BMW AG. Source: Bloomberg)
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.