国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Auto China

BMW to pay $820m to support China car dealers

(Agencies) Updated: 2015-01-05 15:23

BMW to pay $820m to support China car dealers

A BMW 316i Sport Line sedan is pictured at the 16th Chengdu Motor Show, Aug 30, 2013. [Hao Yan / chinadaily.com.cn]

Bayerische Motoren Werke AG has agreed to pay 5.1 billion yuan ($820 million) to its distributors in China to help cover their losses after retailers stopped ordering cars from the German auto manufacturer, a dealer's group said.

The subsidies are the largest by an automaker to its retailers in China and will be paid by the end of February, said Song Tao, a deputy secretary-general of the China Automobile Dealers Association, which represented the BMW distributors in the negotiations. The dealers are still in talks with the Munich-based carmaker over this year's sales targets, he said.

Auto dealers have complained of meeting unrealistic sales projections in order to qualify for year-end bonuses as foreign automakers expand their manufacturing capacity and number of distributors to chase market share.

The BMW payout may increase pressure on other automakers to extend similar support to their retailers, including Toyota Motor Corp, whose dealers are threatening to quit the sales network of its Chinese ventures because of mounting losses.

"This is an unusual move by an automaker to give funding of such a big scale," said Han Weiqi, an analyst with CSC International Holdings Ltd. "But in the long term, a smooth relationship with dealers is in carmakers' best interests and they have to meet dealers half way."

BMW shares fell as much as 2.8 percent to 85.56 euros ($101.8) and were down 2.1 percent in Frankfurt trading, valuing the company at 55.4 billion euros.

Slowing sales growth means a "new normal" is emerging in the country's auto market, BMW said in an e-mailed statement. The carmaker and dealer group "reached consensus on the structure of optimized business measures and financial allocation for the dealers", according to the e-mail.

The German automaker delivered 415,200 vehicles in China in the first 11 months of 2014, operating through a network of more than 440 BMW sales outlets and 100 Mini stores. BMW plans to help its dealers expand activities beyond selling new cars, including financial services and used car sales.

The additional activities offer "large potential" for BMW and its dealers, said the automaker, which will double the number of locally produced cars to six models in the next few years.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
门头沟区| 顺平县| 金沙县| 吴川市| 福建省| 通渭县| 政和县| 临夏市| 义乌市| 江安县| 怀安县| 枞阳县| 惠水县| 宁城县| 吉水县| 砚山县| 历史| 泗水县| 北碚区| 旅游| 黄浦区| 修文县| 新竹市| 嵊州市| 济宁市| 乡城县| 广河县| 伽师县| 新河县| 闻喜县| 锡林郭勒盟| 板桥市| 明水县| 太湖县| 东山县| 舟山市| 石台县| 长汀县| 德清县| 五莲县| 祁东县|