By Drew Johnson
Friday, Nov 23rd, 2012 @ 2:07 pm
 

BMW Group - the parent company of BMW and MINI - expects to sell 1 million cars in China during the 2012-2014 stretch.

BMW Group's China sales jumped 52 percent to 27,828 last month, with the automaker's sales up 35 percent to 264,884 vehicles so far this year. BMW is calling for sales to continue to grow over the next two years, netting total sales of 1 million vehicles during the period.

The luxury car market in China has cooled over the last several months, but still remains strong enough to support BMW's goal. About one in 10 vehicles sold in China is a luxury model.

BMW remains the second best-selling luxury marque in China, trailing only Volkswagen's Audi in total sales. China was BMW's third largest market in 2011, accounting for 232,586 sales.