The Economic Times Monday, February 11, 2002
BMW sales climb 5.7% in Asia AFP SINGAPORE: Sales of German luxury carmaker BMW rose 5.7 per cent in Asia to 61,576 units in 2001, compared to the previous year, despite the economic downturn. A company press release said on Sunday Asia will account for most of the growth in the worldwide automobile business in the next 10 years. Sales in the Association of Southeast Asian Nations (ASEAN) climbed 13 per cent to 11,156 units from 9,870 units in 2000, raising BMW's market share among the premium brands to 35.2 per cent from 32.5 per cent. In January 2002, sales in Asia were up 21.3 per cent on the year, higher than the world growth of 18.7 per cent. "The positive development in Asia for the company was the result of BMW's approach of early market entry by setting up subsidiaries and adding local assembly plants in various countries," the statement said. It cited the setting up of two new subsidiaries in Indonesia and the Philippines, which increased the company's international network of sales subsidiaries to 27. Overall, BMW accounts for one-fifth of the luxury car segment in Asia but is strong in certain markets. "Despite all the doom and gloom, we continue to be confident about the development in many Asian economies over the long term," the statement quoted Michael Ganal, a member of the board of management of the BMW Group, as saying. "Most of the significant growth in the world automobile market in the next 10 years will come from Asia," he said. China emerged as BMW's second largest market in Asia next to Japan with deliveries rising 51.2 per cent to 5,742 units. Sales rose 67 per cent in South Korea. In ASEAN, sales climbed 33 per cent in Thailand, 14 per cent in Indonesia, 95 per cent in the Philippines and 50 per cent in Vietnam. No sales figures were given for other ASEAN members. A company executive said last week that BMW is considering a plan to produce its flagship 7-series models at its Thailand plant to cater to the domestic and regional market. BMW's managing director for Asia Felix Herrnberger said that Thailand was "under consideration" although no final decision had been made to produce the 7-series at the Amata City industrial park plant. Rival European carmaker Volkswagen said last week it would invest more than 2.5 billion euros ($2.2 billion) in the Asia-Pacific region in the next five years. Copyright © 2001 Times Internet Limited. All rights reserved.
