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CAPITAL MARKETS DAY CHINA 2012 DR. FRIEDRICH EICHINER MEMBER OF THE BOARD OF MANAGEMENT OF BMW AG, FINANCE
Beijing October 19, 2012
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 2
CHINA IS A SUCCESS STORY FOR THE BMW GROUP DOUBLE-DIGIT GROWTH BY YEAR-END 2012.
CHINA’S ECONOMIC DEVELOPMENT. THE 12TH FIVE-YEAR PLAN (2011–2015) AIMS AT A MORE MODERATE GROWTH PATH.
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 3
1990 2000 2015 2010
(Ø GDP growth = 10.4%) (Ø GDP growth (Target) = 7%)
Economic growth
from export/
investment driven to
consumption driven
Income
redistribution and
improving people’s
living standards
Urbanization and
regional
development
Energy saving and
environmental
protection
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 4
CONTENT.
1 Status BMW Group
2 Status BMW Group in China
3 Outlook
4 Summary
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 5
CONTENT.
1 Status BMW Group
2 Status BMW Group in China
3 Outlook
4 Summary
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 6
BMW Group
Sales development (units)
September
2012 + 8.3 % 1.335 million
Sales
by continent America
+6.3% YTD
Europe
+0.8% YTD
Asia
+27.2% YTD
ON TRACK TO MEET OUR GUIDANCE: SALES VOLUME ABOVE PREVIOUS YEAR.
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 7
European markets will worsen in 2013
Additional costs for future investments
Staying the strategic course
Start of electromobility with the BMW i3
MARKET CONDITIONS WILL BE MORE DIFFICULT IN 2013.
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 8
CONTENT.
1 Status BMW Group
2 Status BMW Group in China
3 Outlook
4 Summary
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 9
GROWING SIGNIFICANCE OF CHINA.
China has great potential for the future as well.
China‘s significance for the BMW Group continues to grow.
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 10
Source: Global Insight
Premium Segment Development China
in units of a thousand
1,981
2,603
933
111 0
500
1,000
1,500
2,000
2,500
3,000
2005 2011 2015E 2020E
CAGR: +43%
CAGR: ca. +19%
CAGR: ca. +6%
GLOBAL INSIGHT DATA: CHINESE PREMIUM SEGMENT SHOWS SOLID GROWTH, IN MEDIUM-TERM AT A LOWER PACE. OUR OWN GROWTH EXPECTATIONS ARE LOWER.
CHINA HAS BECOME A MAJOR ENGINE FOR THE GROWTH OF GLOBAL PREMIUM SEGMENT.
China Rest of World
Source: Global Insight Data
China’s share of global premium segment
2007
4%
2009
8%
2011
>15%
FC
2012
18%
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 11
INCOME DISTRIBUTION: FURTHER GROWTH OF PREMIUM-RELEVANT UPPER AND UPPER MIDDLE CLASS.
Source: IHS Global
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 12
0
300
400
500
600
2012 2025
Income class definition by annual household income
(inflation and purchasing power parity adjusted, base year 2005)
CAGR: +8.2%
CAGR: +9.0%
23
105
31
73
107
213
Upper Class
(>100k USD)
Upper Middle Class
(60-100k USD)
Middle Class (40-60k USD)
Lower Middle Class
(20-40k USD)
15 mn. premium-relevant
households
Around 46mn. premium-
relevant households
11
24
GROWING HNWI NUMBER IN MAINLAND CHINA –CUSTOMERS HAVE A CLEAR PREFERENCE FOR LUXURY GOODS.
Total Number of High Net Worth Individuals (HNWI)
with net worth of US$ 1 Million or more
in 2011 (unit: Thousands)
Source: 2012 Global Wealth Report, by Capgemini and RBC Wealth Management
3,068
1,822
562
1. 2. 4.
951
3.
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 13
MAINLAND CHINA: URBANIZATION IN FAST MOTION.
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 14
Source: UN 2011
Urbanization is driven by medium sized cities.
0
10
20
30
40
50
60
70
80
0
400
800
1200
1600
1955 1965 1975 1985 1995 2005 2015 2025
Population (m)
Urban population
Rural population
Level of urbanization (%)
< 0,5 m
0,5 - 1 m
1 - 5 m
5 - 10 m
> 10 m
0
100
200
300
400
500
600
700
800
900
1000
1955 1965 1975 1985 1995 2005 2015 2025
Urban population (m)
Urban agglomerations by size
Level of urbanization already at 50%.
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 15
BMW BRILLIANCE AUTOMOTIVE – A JOINT SUCCESS STORY.
Beijing
Yantai
Qingdao
Taiyuan
Hohhot
Anshan
Shenyang
Changchun
Daqing
Linyi
Jinan Weifang
Shijiazhuang
Baoding Tangshan
Wuhu
Hefei
Xuzhou
Hangzhou
Nantong Nanjing
Lishui Taizhou Wenzhou
Jinhua Ningbo Chengdu
Mianyang
Chongqing
Guiyang
Kunming
Yichang Wuhan
Zhengzhou Xi`an
Lanzhou
Urumqi
Guangzhou Liuzhou
Nanning
Chenzhou
Changsha
Nanchang
Xiamen
Quanzhou
Fuzhou
Zhongshan
Foshan
Shenzhen
Shantou
Handan
Yingkou Panjin
Qujing
Yancheng
Beijing
Dalian
Deyang
Xinxiang
Huizhou
Erdos
Luoyang
Yinchuan
Linfen
Guilin
Xining
Jjiangmen
Baotou
Harbin
Jinzhou
Qinhuangdao
Zibo Changzhi
Datong
Yuncheng
Tianjin
Bengbu
Lianyungang
Suzhou
Wuxi Yangzhou
Huai’an
Huzhou Jiaxing
Shaoxing
Longyan
Dongguan
Zhuzhou
Zhuhai
Zunyi
Yulin
Leshan
Putian
Pingdingshan
Zhaoqing
Mudanjiang
Jilin
Dongying
Ningde
Zengcheng
Lvliang
Shangrao
Changzhou
Xiangtan
Haikou
Ganzhou
Jiamusi
Songyuan
Kelamayi
Langfang
Shanghai Zhenjiang
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 16
CHINA‘S DEALER NETWORK – BY END OF SEPTEMBER 332 BMW OUTLETS AND 76 MINI OUTLETS. ROLLS- ROYCE HAS 13 DEALERS IN EAST AND CENTRAL CHINA.
Showroom
Service outlet
4S
UCC
*4S dealership refers to:
Sale, Spare parts, Service & Survey
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 17
BMW X1 AND 3 SERIES LONG WHEEL BASE FROM LOCAL PRODUCTION, AS WELL AS BMW 7 SERIES SUPPORT GROWTH. BMW 5 SERIES LWB CONTINUES SUCCESS.
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 18
FURTHER EXPANSION OF PRODUCTION CAPACITY. LOCAL PRODUCTION OF ABOUT 150,000 UNITS BY END OF 2012.
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 19
BMW FINANCIAL SERVICES CHINA – PROFITABLE GROWTH WITH PARTNERS.
Business volume of 10 billion RMB (~1.2 billion Euros)
Penetration rate in August 2012 was ~12%
Contracts are partly concluded with cooperation partners
Growth by expansion of portfolio
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 20
CONTENT.
1 Status BMW Group
2 Status BMW Group in China
3 Outlook
4 Summary
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 21
THE BMW GROUP IS ON GROWTH TRACK IN CHINA.
Double-digit Sales Growth in the coming years
Growing local production
Further growth in our market presence, across all tier cities
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 22
CONTENT.
1 Status BMW Group
2 Status BMW Group in China
3 Outlook
4 Summary
Capital Markets Day China 2012, Dr. Friedrich Eichiner Page 23
CHINA WILL REMAIN OUR GROWTH DRIVER IN ASIA. OUR TARGET IS A BALANCED GLOBAL MARKET APPROACH.
CAPITAL MARKETS DAY CHINA 2012 DR. FRIEDRICH EICHINER MEMBER OF THE BOARD OF MANAGEMENT OF BMW AG, FINANCE
Beijing, October 19, 2012