BMW sees fourth year of growth

Bloomberg

BMW, the world’s biggest maker of luxury cars, said it expects deliveries in Japan to expand for a fourth year, as consumers regain confidence and demand increases for its diesel models.

The automaker will see “double-digit growth” in Japan this year following a 20 percent gain in 2012, said Alan Harris, president of BMW Japan. Registrations of BMW models rose 7.5 percent in the first four months of this year, according to the Japan Automobile Importers Association.

Prime Minister Shinzo Abe and Bank of Japan Gov. Haruhiko Kuroda are using monetary stimulus and fiscal spending known as “Abenomics” in an attempt to revive the world’s third-largest economy. The policies have sent the benchmark Nikkei 225 stock average surging 30 percent this year and boosted demand for luxury vehicles from Fiat SpA’s Ferrari to McLaren Automotive Ltd.

“Clearly the Abenomics policies have created a greater level of confidence in the markets,” Harris said in an interview Tuesday in Tokyo, where the automaker was introducing the BMW 3 series Gran Turismo. He said the demand in Japan stands “in contrast to Europe, for example, which has a lot more difficulties.”

The Gran Turismo, which went on sale Tuesday, starts from ¥4.94 million, according to the company.