Room for foreign automakers in Chinese market, BMW chairman says
BMW's supervisory board chairman Nicolas Peter expressed confidence in the Chinese and US car markets, while noting European sales are lower than production despite a local strategy.
- Country:
- Germany
There is room for automakers aside from Chinese ones in the Chinese car market, as it is by far the world's largest, BMW supervisory board chairman Nicolas Peter said on Thursday.
Peter added that BMW remains quite confident in the U.S. market, which is stable and important, but that it is selling less in Europe than it is manufacturing, despite its local strategy.
The European auto market could be up to 60% electric on average by 2035, he also said.
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