Photo: BMW
After a remarkable, record-breaking 2012 and first quarter of 2013, BMW announced at the Shanghai Auto Show that it expects the rest of the year to have slower sales than previously stated.
According to The Wall Street Journal, Ian Robertson, Marketing and Sales Chief over at BMW said that he doesn't expect growth rates to be as high as those recoded in the past.
"The market is maturing somewhat. We're expecting normalizing growth figures in coming years," Robertson said for The Wall Street Journal.
The new expected levels are now around the high single digits. That's a big changeover, since BMW recorded a increase in China of about 40% last year and sold around 326,000 vehicles.
This new target seems to be adjusted according to China's new emphasis on austerity imposed by its new President, Xi Jinping and the recent slowdown in economic growth.
However, some analysts claim that these claims are just a publicity scam and that BMW will continue to sell very well in China, reaching a growth of about 17% for 2013 (according to IHS Global Insight).
Via: The Wall Street Journal
"The market is maturing somewhat. We're expecting normalizing growth figures in coming years," Robertson said for The Wall Street Journal.
The new expected levels are now around the high single digits. That's a big changeover, since BMW recorded a increase in China of about 40% last year and sold around 326,000 vehicles.
This new target seems to be adjusted according to China's new emphasis on austerity imposed by its new President, Xi Jinping and the recent slowdown in economic growth.
However, some analysts claim that these claims are just a publicity scam and that BMW will continue to sell very well in China, reaching a growth of about 17% for 2013 (according to IHS Global Insight).
Via: The Wall Street Journal
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