Audi, BMW Doing Well in China

Both Audi and BMW are doing well in a Chinese market with a seemingly endless thirst for German cars, according to interviews. Audi CEO Martin Winterkorn told German trade magazine Automobilwoche that the company planned to sell 6,500 more cars than last year, bringing the total to more than 70,000. BMW said production at its Shenyang production facility would hit 30,000 before the end of next year. Taking steps in that direction, BMW said that it was adding extra shifts to increase the cars produced per day figure from 45 to 100. The German Stock Exchange (DAX) welcomed Winterkorn's announcement. Volkswagen, which owns Audi, saw its stock value rise 1.7 percent to €35.45 ($42.4).