China’s GAC, BMW expect China sales to grow this year

BEIJING – Chinese automaker GAC 601238.SS and Germany’s BMW BMWG.DE expect sales to grow this year in China, the world’s biggest auto market, as consumption revives from COVID-19 lockdowns, officials said on Saturday.

Guangzhou-based GAC, which has partnerships with Toyota Motor 7203.T and Honda Motor 7267.T, expects its full-year sales and production to be positive, said general manager Feng Xingya.

Jochen Goller, head of BMW China, said the carmaker expects “single digit growth” in China this year.

The executives were speaking at the Beijing International Automotive Exhibition 2020. GAC previously said it aimed to increase sales by 3% in 2020.