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Old 10-11-2011, 11:33 AM
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Arrow BMW grows lead on Audi with X3

BMW grows lead on Audi with X3

BMW, the biggest maker of luxury vehicles, yesterday said it has expanded its lead over Volkswagen’s Audi, buoyed by demand for the X3 sport-utility vehicle.

Sales for the namesake BMW brand rose 9,3% to 128446 vehicles last month as deliveries of the X3 more than tripled, it said yesterday.

Audi posted a 17% gain, delivering 120200 vehicles on stronger demand in China, it said yesterday.

"It’s all holding up extremely well," Credit Suisse analyst Arndt Ellinghorst said in London. Growth rates of about 20% in China for BMW and Audi are "quite healthy".

BMW, Audi, and Daimler’s unit Mercedes-Benz are targeting record sales this year and expect demand for high-end vehicles to outpace the broader car market.

"We made solid gains across the globe and once again achieved record sales for September," Ian Robertson, BMW’s sales chief, said.

The company was "on course" to meet its target of delivering 1,6-million vehicles this year and aims to maintain an "upward trend" in the fourth quarter, he said.

BMW expanded its lead over Audi and Mercedes after the first nine months, delivering 1,02-million vehicles compared with Audi’s 973200 and Mercedes’s 919288. The Daimler unit, which aims to overtake Audi and BMW by 2020, remains in third place after sales last month edged up 2%.

BusinessDay - BMW grows lead on Audi with X3
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