Bmw to Sell 100,000 M3s

By: Anthony Fontanelle

BMW expects to sell more than 100,000 new M3s, reported Automobilwoche, a German industry paper.

The snooty sales target for the latest generation E90-based M3 was revealed by the German automaker's M division representative. The M3 is a performance version of the popular compact 3-Series vehicles, which use some of the BMW 325IS parts. In essence, M3 models are based from the E30, E36, E46 and the E92 models. The Bavarian automaker sold 90,000 units of its previous M3, the E46 model, before the production of such was discontinued.

Compared to the 18,000 sales of the original E30, the M3 brand has evolved into a mass-market product in its own right.

Separately, BMW announced Tuesday its firm commitment to the Vietnamese market by officially appointing the Euro Auto Joint Stock Company as its authorized importer and distributor in the country.

The Bavarian automaker is entering Vietnam for the second time after a halt of close to two years in a new agreement that will also see Euro Auto being charged with post-sale services for all BMW product lines in the territory.

Director General of BMW Asia Roland Krueger said that the company believed that the Vietnamese market is quickly expanding and the group was eager to cement a foothold in the country by striking a strategic partner agreement.

As part of the agreement, the distributor built a $3 million-worth custom-built showroom and service centre in Ho Chi Minh City. Euro Auto Director General Huynh Du An said that his company would initially place orders to import between 200-300 of BMW's latest models including the 320i, 325i, 530 and the 730Li from now until the yearend.

The automaker had previously entered Vietnam in 1994 with a joint venture with Hoa Binh Automobile but pulled out of the market due to meager sales a year after the venture's inception.

Earlier, the BMW Group Asia announced the appointment of its new distributor in HCMC. The HCMC-based Euro Auto Corp. will import, sell and supply services for the Bavarian automaker's product lines.

Huynh Du An, the general director of Euro Auto Corp, said that he had opened a boutique showroom at 165 Pasteur Street, District 3 to serve customers. These showrooms will be complemented by an interim service facility at 392 Kinh Duong Vuong Street, Binh Tan District.

As reported, Euro Auto will offer retail and services experience in a newly constructed facility at Phu My Hung new urban area next year. The company expects to sell 200 to 300 car units this year and 500 to 600 cars in 2008.

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