BMW expects slower China growth this year

BMW (BMW.FRA) expects slower sales growth in China reaching only upper single digits this year, company board member Ian Robertson said last weekend at the Shanghai Auto Show, The Wall Street Journal reported. “The market is maturing somewhat,” he said. “We’re expecting normalizing growth figures in coming years.” Some analysts say BMW’s cautious outlook is reflective of China’s contracting business environment, economic slowing and new austerity measures from President Xi Jinping. Other premium-car makers said the impact isn’t so severe. “Certainly we have seen more dynamic times in China, but still see decent growth,” said Hubertus Troska, Daimler’s (DAI.FRA) board member responsible for China.