The newly rich Chinese are ready and willing to show their neighbors that they are flush with cash, and what better way to do it than buy a 5 or better yet, a 7 series BMW.
BAYERISCHE Motoren Werke AG said its first-half China sales jumped 38 percent, as the world’s second-best performing stock market made more people wealthy and increased the demand for luxury cars.
The world’s largest maker of luxury vehicles sold 23,667 BMW-brand sedans and Mini-brand cars in China in the first six months, BMW said in a statement yesterday. Sales of the BMW brand, especially China-made 5-Series sedans, rose 36 percent to 22,891 units, BMW said.
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