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AGMC says BMW sales rise 17% in 2008, fuelled by new models.

Dubai: AaAGMC, the importer of BMW cars for Dubai, Sharjah and the northern emirates, announced a 17 per cent increase in annual sales for 2008 over the previous year.

The dealer sold 4,221 automobiles during the year, making the UAE the highest sales volume market in the region for the European car manufacturer.

Many new models were launched during 2008, which include the X6, the re-designed 3 series and the fifth generation of the 7 series.

Stathis I. Stathis, general manager of AGMC, said, "We anticipate 2009 to be challenging but consumer demand in the luxury segment still remains healthy, and we have several new product launches planned for the year, so we are optimistic that 2009 will be another good year."

Meanwhile, in the region, the European car manufacturer had 12 per cent growth during the first ten months of the year, compared to the year before.

While results are positive for 2008, the impact of the financial turmoil will hit results this year since the region did not feel the impact of the liquidity crunch until midway into 2008.

Year to date units sold were reported at 13,326. Expectations for the year end are that the company will close at about 16,500 automobiles under the brand as well as 750 units of Mini, according to Phil Horton, BMW managing director for the Gulf region.

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Publication:Gulf News (United Arab Emirates)
Geographic Code:7UNIT
Date:Jan 27, 2009
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