Singapore, July 16: Bayerische Motoren Werke (BMW), the world's no. 2 luxury carmaker, aims to sell a quarter of its cars in Asia, senior vice-president of the company said. Lueder Paysen said the company is in talks with Indian automakers to set up a joint venture for assembling cars in the country and will take a decision in six months. Asia accounted for 7.4 per cent of global unit sales last year by selling more than 40,000 cars in the first half, a 10.2 per cent increase from the year-earlier period. He said the company expects the pace of growth in Asia to accelerate in the second half. Car sales in China more than doubled in the first half to 5,917 units, he added.
BMW's profit margins in Asia are being hurt by the strength of the Euro, Paysen said without giving further details.

Bureau Report