BMW and Audi Report Rising Sales on Back of Improving Chinese Auto Market
World's biggest maker of luxury cars, BMW, and Volkswagen's Audi, reported rising sales for the month of November, on the back of improving Chinese auto market which nearly doubled because of ample Government incentives.
BMW and its Mini, as well as Rolls Royce brands of luxury cars, recorded a 12% rise in sales for the month to 107,686 cars and SUVs, as has been confirmed by the company. Audi managed as many as 82,750 deliveries, an 8.9% hike compared to last year.
Cars sales in China, on the whole, rose by a whopping 98% to 10.4 million vehicles during November alone, and this is the highest single month figure recorded in 5 long years. Consumers made the most of various tax breaks and subsidies being offered. This is in sharp contrast with the American auto market, which has remained unchanged for over a year now.
"China is the undisputed locomotive of world car markets but we cannot forever rely on that uptrend. One day the saturation level will be reached there. Beyond Asia, markets still look fairly fragile", said Stefan Bratzel, Director of the Center of Automotive Research at the University of Applied Sciences, Germany.
Experts are now expecting sales to rise even more, especially with the holiday season right around the corner and consumer confidence at an all time high.