Reuters

BMW confident sales in China will increase next year – finance chief

BMW is confident that sales in China will increase next year, finance chief Nicolas Peter told Reuters on Monday, attributing high demand for premium cars to travel restrictions that have left consumers with more money to spend. Car sales in China have fallen in recent months as floods, COVID-19 outbreaks and a semiconductor shortage hit the domestic market, but BMW has bucked the trend, reporting a 12% rise in sales there in its second-quarter. “The market will not grow as quickly as it did over the last 12 months – that was when the catch-up effects after the corona disruption made themselves felt,” Peter said.

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