BMW to Reduce Sales Volume to Stabilize Prices Amid Price War in China

TapTechNews July 12th news, the blogger @Sun Shaojun09 said that due to the price war resulting in severe losses in stores, BMW will stabilize prices by reducing sales volume from July to ease the operating pressure of stores.

In response to the rumor that BMW China will withdraw from the price war, BMW China responded to Shell Finance that in the second half of the year, BMW in the Chinese market will focus on business quality and support dealers to make steady progress.

According to TapTechNews' previous report, the BMW Group sold 375,947 BMW and MINI new cars in China in the first half of 2024, a year-on-year decrease of 4.2%; the sales in China in the second quarter of this year reached 188,495, a year-on-year decrease of 4.7%.

In the first half of 2024, the global sales of the BMW brand reached 1,096,486, an increase of 2.3% year-on-year; including 179,557 pure electric models, an increase of 34.1% year-on-year. The global sales of the BMW brand in the second quarter reached 565,553, an increase of 2.2% year-on-year.

It is worth mentioning that at the end of May this year, BMW sent a letter to dealer stores stating that in view of the general market background and the huge impact brought by domestic brands, it decided to offer a number of substantial subsidy reduction policies to BMW 4S stores. The reduction policies include multiple fields such as new car sales, customer support and service, BMW Finance, dealer development, and used car business, aiming to help dealers deal with short-term difficulties and relieve business pressure.

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BMW's Global Sales in the First Half of 2024 Increased by 2.3% Year-on-Year, 179,557 Pure Electric Models Grew by 34.1%