BMW To Launch China-made 5-Series Saturday

BEIJING November 26, 2003; Dow Jones reported that German luxury automaker Bayerische Motoren Werke AG is to launch its China-made 5-series model Saturday, adding to a 3- series already being produced at its new joint venture.

BMW Group Chairman Helmut Panke said Thursday he expects BMW model sales in mainland China next year to exceed those of 2003.

BMW sales in the country have already doubled in the first 10 months of this year to 11,850 vehicles. Of those, 10,950 were imported vehicles including 7-, 5- and 3-series models, while 900 of the sales were 3-series models built at a joint venture in Shenyang in northeastern China.

"In our BMW retail sales figures, we see the enormous momentum that is in the Chinese mainland market," Panke told reporters. "That is why we continue to increase our presence here."

BMW Brilliance Automotive Ltd. is a 50% BMW-owned joint venture with New York- listed Brilliance China Automotive Holdings Ltd. and the Shenyang city government.

The new plant began assembling 3-series models this year with the first vehicles sold to the local market in October.

The company aims to sell between 2,000 and 2,500 units this year, priced at 473,850 yuan ($1=CNY8.28) each, a small fortune in a country with an average annual income of $700.