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BMW Chief Executive Norbert Reithofer on Tuesday said the luxury car maker expected sales in China to grow by a low double-digit percentage amount this year, noting that some of the higher growth rates seen in previous years would not return.
"I see a normalization of the Chinese market as it will become more like the US market. In the past, we were spoiled with high rates of growth," Reithofer said in a conference call with journalists on Tuesday.
"High double-digit percentage rates of growth are over," Reithofer said, noting that he expects BMW sales to grow by a low double-digit percentage amount in 2014.
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