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3 years ago
BMW margins narrow in China, expects to outpace wider market - China CEO
November 20, 2014 / 1:52 AM / 3 years ago

BMW margins narrow in China, expects to outpace wider market - China CEO

GUANGZHOU, China, Nov 20 (Reuters) - BMW's profit margins in China are narrowing partly due to increased market competition, the German carmaker's China head said on Thursday, but the firm still expects to outpace growth of the wider premium car market.

The carmaker expects the premium car market in China to grow at around 10 percent annually over the next few years, BMW's China chief executive Karsten Engel said in an interview at the Guangzhou autoshow.

BMW competes with German rivals Daimler AG and Volkswagen AG's Audi AG in China, the world's second biggest premium car market after the United States. (Reporting by Samuel Shen and Kazunori Takada; Writing by Adam Jourdan)

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