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The comeback of the luxury car market has come earlier that BMW expected. In fact, the large demand for the new BMW 5 Series in China and the U.S. has forced BMW to boost their deliveries and productions. They are planning to export 10,000 3 Series units from Munich to China this year alone just to meet the demand. They also have hired additional workers and shifts.
Last June 23, BMW has announced that the news 5 Series is already sold out in all markets, forcing the owners to wait three months for delivery.
The demand for luxury cars in China have seriously increased. They have replaced the U.S. as the biggest luxury car market. The fact that there are more than 900,000 millionaires in China willing to show off their wealth through buying luxury cars is a strong indicator or continuous sales growth for BMW there.
BMW is a symbol of status, quality, performance, and luxury – the things that businessmen want to embody when they are doing business. Their improved quality of BMW cars and the regional strategy is now paying off.
BMW has already raised their sales forecast for the last half of 2010.
