Bmw to Sell 100,000 M3s

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 generationcentre in Ho Chi Minh City. Euro Auto Director General
E90-based M3 was revealed by the GermanHuynh Du An said that his company would initially place
automaker's M division representative. The M3 is aorders to import between 200-300 of BMW's latest
performance version of the popular compact 3-Seriesmodels including the 320i, 325i, 530 and the 730Li from
vehicles, which use some of the BMW 325IS parts. Innow 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 automaker1994 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, theEarlier, the BMW Group Asia announced the
M3 brand has evolved into a mass-market product inappointment of its new distributor in HCMC. The
its own right.HCMC-based Euro Auto Corp. will import, sell and
Separately, BMW announced Tuesday its firmsupply services for the Bavarian automaker's product
commitment to the Vietnamese market by officiallylines.
appointing the Euro Auto Joint Stock Company as itsHuynh 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 thePasteur Street, District 3 to serve customers. These
second time after a halt of close to two years in ashowrooms will be complemented by an interim
new agreement that will also see Euro Auto beingservice facility at 392 Kinh Duong Vuong Street, Binh
charged with post-sale services for all BMW productTan District.
lines in the territory.As reported, Euro Auto will offer retail and services
Director General of BMW Asia Roland Krueger saidexperience in a newly constructed facility at Phu My
that the company believed that the VietnameseHung new urban area next year. The company
market is quickly expanding and the group was eagerexpects to sell 200 to 300 car units this year and 500
to cement a foothold in the country by striking ato 600 cars in 2008.
strategic partner agreement.