BMW to Distribute Cars in Vietnam after Production Abandonment
Germany-based luxury carmaker BMW announces that it will distribute cars in Vietnam from July 2007 after its failure in production here, Vneconomy said.
BMW will initially sell five models in Vietnam, including luxury 7-series sedans and X5 multipurpose vehicle (MPV).
BMW has appointed Euro Auto Joint Stock Company to be its distributor in the country, which has opened a showroom in luxury Phu My Hung accommodations in Ho Chi Minh City.
Previously, BMW withdrew from the VMC joint venture in Vietnam in the wake of unprofitable performances.
BMW sold only 101 vehicles, most 3-series, in Vietnam in 2006 and 37 units in the first four months of 2007. Meanwhile, BMW is estimated to sell nearly 1.24 million vehicles all over the world in 2007.
Its former partner VMC has recently joined hands with China’s vehicle maker Lifan to assemble cheap Lifan 502 sedan in the country.
VMC, which also assembles Mazda and Kia cars, delivered 411 cars in the first five months of 2006, up 127 per cent on year, holding 1.8 per cent of the local market share. (VnEconomy)
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