"Brilliance sells 22,000 BMW cars in Jan-Apr, up 77.3%
Shanghai, May 28 (Gasgoo.com) Brilliance China Automotive Holdings Ltd., Chinese partner of German luxury car maker BMW AG, said today that its sales of BMW sedans rose 77.3% in the first four months of the year to 22,000 units, media reported.
This year, BMW sedans made by joint venture BMW Brilliance are in great demand and sales may increase by 30% or more, Brilliance Chairman Wu Xiaoan told reporters in Hong Kong after the company's annual shareholder meeting today. The company sold 44,888 BMW sedans in 2009.
BMW Brilliance, which makes 3 and 5 series sedans in northeastern Chinese city of Shenyang, is expanding its factory and will start building a second plant early next month for more capacity to meet the rising demand for luxury cars in China, the world's largest auto market.
The joint venture's annual production capacity for BMW sedans will rise to 200,000 units by 2012, then eventually to 300,000. About 10 billion yuan ($1.47 bln) will be invested over three to five years in building more BMW cars at the venture, Wu said.
In another development, Brilliance China's minibus venture with Toyota has lasted for the past two decades. The Chinese company expects to meet its target of selling 100,000 minibuses in 2010.
"We are expected to post profits this year," Wu said. "With the growth in demand for the vehicles under our portfolio, we're expecting promising earnings this year.""http://autonews.gasgoo.com/auto-news/1015359/...-Jan-Apr-up-77-3.html