| BMW expects to sell more than 100,000 new M3s, | | | | As part of the agreement, the distributor built a $3 |
| reported Automobilwoche, a German industry paper. | | | | million-worth custom-built showroom and service |
| The snooty sales target for the latest generation | | | | centre in Ho Chi Minh City. Euro Auto Director General |
| E90-based M3 was revealed by the German | | | | Huynh Du An said that his company would initially place |
| automaker's M division representative. The M3 is a | | | | orders to import between 200-300 of BMW's latest |
| performance version of the popular compact 3-Series | | | | models including the 320i, 325i, 530 and the 730Li from |
| vehicles, which use some of the BMW 325IS parts. In | | | | now until the yearend. |
| essence, M3 models are based from the E30, E36, | | | | The automaker had previously entered Vietnam in |
| E46 and the E92 models. The Bavarian automaker | | | | 1994 with a joint venture with Hoa Binh Automobile but |
| sold 90,000 units of its previous M3, the E46 model, | | | | pulled out of the market due to meager sales a year |
| before the production of such was discontinued. | | | | after the venture's inception. |
| Compared to the 18,000 sales of the original E30, the | | | | Earlier, the BMW Group Asia announced the |
| M3 brand has evolved into a mass-market product in | | | | appointment of its new distributor in HCMC. The |
| its own right. | | | | HCMC-based Euro Auto Corp. will import, sell and |
| Separately, BMW announced Tuesday its firm | | | | supply services for the Bavarian automaker's product |
| commitment to the Vietnamese market by officially | | | | lines. |
| appointing the Euro Auto Joint Stock Company as its | | | | Huynh Du An, the general director of Euro Auto Corp, |
| authorized importer and distributor in the country. | | | | said that he had opened a boutique showroom at 165 |
| The Bavarian automaker is entering Vietnam for the | | | | Pasteur Street, District 3 to serve customers. These |
| second time after a halt of close to two years in a | | | | showrooms will be complemented by an interim |
| new agreement that will also see Euro Auto being | | | | service facility at 392 Kinh Duong Vuong Street, Binh |
| charged with post-sale services for all BMW product | | | | Tan District. |
| lines in the territory. | | | | As reported, Euro Auto will offer retail and services |
| Director General of BMW Asia Roland Krueger said | | | | experience in a newly constructed facility at Phu My |
| that the company believed that the Vietnamese | | | | Hung new urban area next year. The company |
| market is quickly expanding and the group was eager | | | | expects to sell 200 to 300 car units this year and 500 |
| to cement a foothold in the country by striking a | | | | to 600 cars in 2008. |
| strategic partner agreement. | | | | |