Abney Associates See BMW Driving in China Sales
Abney Associates advising investors on German luxury automobile manufacturer, Bayerische Motoren Werke AG (BMW), have predicted that China is set to overtake the US as its leading market in 2013.
183 Queen's Road East (I-Newswire) August 19, 2013 - "Analysts at Abney Associates have noted that this prediction is based largely on the emergence, within China, of rapidly growing communities, there are more than 100 cities in China with a population of over 1 million that currently have no premium car dealers. Penetration into these untapped markets, along with the introduction of a number of new model vehicles, is expected to push China to the front of BMW's global industry," explained James Carter, Senior Vice President of Mergers and Acquisitions at Abney Associates.
The German car manufacture researchers have been able to estimate that as much as 62% of China's potential car buyers, within the next 12 months, will come from smaller communities and cities where, at the moment, there are no premium automobile dealers. BMW's expansion into these new emerging markets are perfectly timed, with the premium auto segment in China expected to increase by 7 percent within this financial year.
BMW's plans for growth within China will center on the addition of over 60 new dealerships, covering each of China's provinces and bringing the total number of outlets up to over 420 nationwide. The car manufacturers are expecting continued success with sales of the 5-Series and the BMW Mini the company's bestselling models in China, and are preparing to launch their 'i3 electric' city car in the second quarter of 2014.
"In the past the U.S. has been BMW's most profitable market, the car makers first half sales report for 2013 shows that China has now overtaken the US, both in sales growth and in overall deliveries," a senior analyst at Abney Associates said and went on to say. " In the first-half of 2013, U.S. sales had risen by 9 percent, equating to a total of 172'787 cars sold, compared to China's sales gaining a massive 15 percent, bringing the total number of cars sold up to 182'800."
Despite BMW's Chinese sales falling marginally short of their German based competitor Audi, they have had a higher percentage growth for at least three consecutive years. While in 2012 Audi held 29.6 percent of the Chinese market for premium automobiles, against BMW's slightly lower 23.6 percent, however BMW is now leading the way in the first-half of 2013 having seen a 40 percent increase in the number of vehicles sold, compared to the 30 percent gain seen by Audi.
"The future looks promising for BMW, with their hold on world markets, their skill in product development and the prestige that comes with the company name. Expanding into this growing market will bring wealth adding to the previous decades success, where they have gone from selling 800 cars in the whole year of 1994, to selling over 900 cars per day last year," added James Carter, Senior Vice President of Mergers and Acquisitions at Abney Associates.
Abney Associates are a Hong Kong based company that provides a range of financial services to individual clients, portfolio companies, corporate investors and entrepreneurs who wish to take unbiased financial advice.
Abney Associates are primarily a team of financial specialists who pride themselves on having a high level of expertise and vast experience for diligently monitoring any positive or negative developments to companies currently listed on exchanges globally, especially those that may affect client investment interests. This is done in order to ensure the financial advice given is factually correct and delivered in an effective way.
About Abney Associates
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Published On:August 19, 2013
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