BMW 1-Series car selling in China for 273,000 yuan up

Shanghai, June 2 (Gasgoo.com) German automaker BMW began selling its BMW 1-Series today in the fast-growing Chinese market to help boost sales of high-end models. The imported hatchback models are priced between 273,000 yuan ($39,340) and 445,000 yuan, the company said on Monday. The car is offered in three versions with 2L to 3L engines.

As the world's biggest maker of luxury cars, BMW competes with Volkswagen's Audi, among others, in China. Audi AG and Ford Motor have added new models and boosted production in China as rising incomes spur sales of more expensive cars. The 1-Series will vie with models including Ford's Volvo C30, whose 2.4L version costs from 368,000 yuan.

BMW will sell three five-door variants of the rear-wheel drive hatchback in China starting today. The models are the BMW 120i MT, 120i AT and 130i AT, priced at 273,000 yuan, 288,000 yuan and 445,000 yuan, respectively. BMW unveiled the 1-Series in China at the 2008 Beijing Auto Show in April.

Currently BMW makes 3-Series and 5-Series cars in a joint venture with its Chinese partner Brilliance China in the northeastern city of Shenyang. Its sport-utility vehicles and Mini-brand models are imported. The 1-Series may be locally produced in China if imported ones sell well, said the head of Brilliance China.

In 2007, BMW boosted China sales 42% to 51,588 vehicles. Its car sales in mainland China jumped 43.2% to 14,574 units in the first quarter of this year. At the time, the company expects to achieve double-digit sales growth in the China market in 2008.