BMW finds new hope in China, now its No.3 market

BMWs sales have achieved significant growth in emerging markets, such as China, compared to double-digit declines in German and North American markets in 2009. In China, Brazil and India, the number of sales reached 90,536, up 38 percent; 6,398, up 119 percent and 3,619 up 24 percent, respectively, hitting record highs.

This makes China the world's third largest auto market, following Germany and the United States. In 2009, the company sold over 250,000 cars in Germany and over 190,000 cars in the U.S.

In January and February of 2010, BMW saw a 100 percent growth in China.

During BMW Group's annual financial news conference held in Munich last Wednesday, BMW Chairman and CEO Norbert Reithofer said this year BMW plans further increase sales in China, Brazil and India. On the Chinese market, it is expected to achieve double-digit growth and 10 million sales.

Last Wednesday, more than 200 journalists from around the world, including over 20 from China, convened in BMW World in Munich to attend the company's annual news conference.