BMW aiming for 25% of global sales in Asia

BMW aiming for 25% of global sales in Asia

Agence France-Presse, Seoul

BMW is aiming to increase its Asian sales to 25 percent of its
global sales, the German carmaker announced here Tuesday as it
launched its top of the market model in the region's most
difficult market.

BMW sales were returning to levels achieved before the 1997-
1998 Asian financial crisis and the region would be the engine
for world auto growth over the next decade, said BMW Group senior
vice president for sales and marketing Lueder Paysen.

He said Asia currently accounts for less than 10 percent of
the company's worldwide sales which were estimated at about
905,000 BMW and Mini cars in 2001.

"Over the next 10-15 years we want to increase that to 25
percent," Paysen told a press conference.

He said that despite the Asian crisis, BMW had kept its share
of the luxury car market at around 20 percent.

"In the next 10 years to come the growth will really come in
Asia. We really have to prepare ourselves."

BMW is just launching its latest seven series model in South
Korea at a basic price of about 150 million won (US$115,000).

Paysen said BMW's policy of establishing its own company in
South Korea was paying off despite the country's reputation of
being a closed market.

He predicted sales of the company's top of the range model
would almost double to more than 1,000 in 2002 from about 640 in
2001.

BMW is the top imported car in South Korea, where foreign cars
account for less than one percent of total sales. Foreign
companies complain about non-tariff barriers and semi-official
attempts to discourage the public from buying non-Korean cars.