Brilliance Profits Boosted by BMW Partnership

This week, Chinese company Brilliance, announced that the net profit numbers jumped 27 percent in 2012 due to its partnership with German manufacturer BMW, according to Shanghai Daily.
BMW-Brilliance 5 Series 1 photo
The net profits posted by the Hong-Kong listed company reached 2.3 billion yuan ($370 million, €288 million) for 2012, mostly because of the joint-venture with the Bavarian company.

With a sales surge of 48.7 percent, 35.2 percent of the net profits were due to the increase in BMW sales, that reached 303,169 units last year,  40 percent more than in 2012. Most of the cars were 3 Series, 5 Series and X1 models.

Another factor was the 30 percent increase of the luxury segment on the Chinese market. As a comparison, the passenger car market grew only by 7.1 percent over the same time frame.

Profits are not the only area where the partnership between the 2 brands proves successful. According to Chinese officials, the companies are also developing Chinese-branded new energy products that will be launched at the end of 2013.

Via: Shangai Daily


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