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Tuesday 9 November 1:05 PM
CHINA PRESS:BMW's Jan-Oct Sales Slow On Econ Soft LandingBEIJING (Dow Jones)--China's economic "soft landing" contributed to an easing in German automaker Bayerische Motoren Werke AG's (BMW.XE) sales growth in the country to 12% in the first 10 months of 2004 to 13,461 BMW and Mini model vehicles, the China Daily reports. In contrast, BMW's China sales almost tripled in 2003, the report says. "Growth this year will be lower than last year because of the soft landing of China's economy and the auto industry," the report says, citing BMW Group Chairman Helmut Panke. China's policymakers have implemented a series of administrative measures over the past year, as well as a rise in interest rates last month to take the steam out of an economy that grew 9.5% on year in the first nine months of 2004. BMW has a joint venture with China Brilliance Automotive Holdings (CBA) to produce the German company's 3 and 5 series models in China. Newspaper Web Site: http://www.chinadaily.com.cn -By China Bureau, Dow Jones Newswires; (8610) 6588 5848; djnews.beijing@dowjones.com
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