26 — Friday, March 17, 1989 - North Shore News THE WEST German Motor Group, BMW, experienced the fastest rate of sales increase since the mid-1970s last year. In a letter to shareholders, chairman Eberhard von Kuenheim said that in Germany alone, where the overall market was down from the previous year, new BMW reg- istrations were 21 per cent higher, totaiing more than 189,000 cars. In Canada, where total sales drop- ped eight per cent in twelve mon- ths, the marque had a record year. Sales of 5,006 units represented & tHree per cent increase over 1987, turning BMW into the leading im- porter of luxury cars in the over $30,900 price segment. By con- trast, Mercedes-Benz dropped four per cent, Volvo 10 per cent, Saab 19 per cent, Jaguar 23 per cent, Toyota 39 per cent and Nissan 42 per cent. While the North American mar- ket lost momentum in the second half of 1988, especially in the up- market segmeat, exports of Ger- man automobiles developed more favorably than expected to Western Europe and Japan. Worldwide, registrations of new BMW automobiles were up by 10 per cent to 495,000 units. Von Kuenheim says the con- tinued buoyancy of the main European markets meant that production of the company’s top- of-the-line ‘7’ Series was increased beyond the planned figures to 58,000. The introduction of the new ‘5’ Series at the beginning of the year resulted in such a demand for the vehicle that the record sales figures achieved by the former ‘5* reports risin Series were exceeded by a substan- tial margin, a rare occurrence in the first year of a new model. The annual production amounted to 153,000 units, in- cluding the end-of-year start to the manufacture of the 24-valve M5 by BMW Motorsport GmbH. Sales of the smaller ‘3’ Series continued to develop favorably but since production capacity was in- tentionally shifted towards the recently-introduced larger model serics, the volume of orders receiv- ed jor the compact was far greater than the availability. The Zl roadster sports car, a project of BMW Technik GmbH. has been available in small numbers since the beginning of 1988. BMW subsidiaries in other European markets also achieved growth rates similar to Germany. In the 12 EEC countries, registra- tions of new BMWs were up 20 per cent in the year under review, to 2 total of 317,000 units. This market, with its tax disad- vantages to BMW in a number of member courtries, is scheduled to become a single domestic market in 1992. The European Economic Community already accounts for about two thirds of BMW’s total automobile production. In the United States, the change in value of the U.S. dollar and the in registrations by 16 per cent :o 73,400 units, reflects the general development in the U.S. luxury/performance segment of imported automobiles. Throughout the year, demand for the ‘7’ Series remained positive, retail sales in the USA increasing 89 CHEROKEE LTD. aa | Cali Steve Coles Ceplieno Al Maks Auto Leese 985-0694 PHONE FOR YOUR APPOINTMENT Gas Ber 24 hrs. Shop: Mon.-Fri. 8am-10pm, Sat. 8am-4pm NORTH VAN SHELL : 1250 Lonsdale North Vancouver 998.4950 by one third to 13,300 units. Von Kuenheim says the new ‘5° Series, not launched in North America until the latter part of 1988, soon generated a significant increase in demand, which should LER g sales be reflected in sales in the course of 1989. The expansion of business vol- ume required additional manpewer at BMW’s Dingolfing and Regensburg factories. At the end & in of 1988, the headcount of BMW AG was 57,000 — 2,000 more than the previous year. Investment by the group was once again some DM 2 billion. 89 CORVETTE Auto, V6, 496-6663 From *hayS00 9.9% 48 months, $2,000 down or trade $309.07 PER MO. O.A.C. ~ 89 BLAZER V6, auto, 798-1884 From 16,967 9.9% 48 months, $3,000 down or trade $381.19 PER MO. O.A.C. 9.9% 48 months, $4,000 down or trade $460.75 PER MO. O.AC. #99-8902 From 46,739 9.9% 48 months, $10,000 down or trade $1002.87 PER MO. O.A.C. 188 CUTLASS SUPREME | 4 Demo #89-1144. ‘i Year end & Demo dis. $2838 Reg. $20,958 518,120 9.9% 48 months, $2,000 down plus $1,000 rebate $412.13 PER MO. O.A.C. 88 CIERA SW 517,438 1 ONLY 9.9% 48 months, $3,000 down or trade $393.83 PER MO. O.A.C.