LUXURY car-maker BMW is aiming to sell more cars in Singapore next year despite the looming economic slowdown but most of its rivals are more conservative in their outlook.
BMW, which is holding a preview of its yet-to-be-launched 7-series flagship, said advantage lies with whoever has new products - downturn or no.
"All things being equal, it's better to have a new car than no new car in a slowdown," said a spokesman for BMW Asia, the maker's regional headquarters here.
The all-new 7-series is slightly larger than the current model, which BMW agent Performance Motors expects to sell out by end of the year. The successor boasts new technologies like active all-wheel steering and electric regeneration when the car brakes.
To improve efficiency, the cars have smaller but turbocharged engines. The 740 has a 3.5-litre six-cylinder engine while the 750 has a 4.4-litre eight-cylinder - both twin turbos.
Performance Motors managing director Simon Rock said 40 customers have placed deposits for the car before test-driving it and before firm prices are known. It is expected to cost 5 to 10 per cent more than the current model.
"We expect to sell more cars on the whole next year," Mr Rock said, adding that it sold 2,851 cars in the first nine months of the year, up from 2,682 in same period last year.
Other luxury marques are more cautious due to a spreading financial crisis that has forced carmakers from Toyota to Bentley to cut production.
Daimler South-east Asia spokesman Helfried Scharf said: "We are determined to achieve our targets, but sales will not be higher than this year's."
Porsche Asia-Pacific managing director Christer Ekberg said "it is too early to say" how the financial meltdown would affect sales here. "But up till today, things still look good," he said.
Mr Reinhold Carl, managing director of Audi Singapore, said: "2009 will be a tough year for the car industry and the speed of growth for Audi in Singapore will be affected somewhat." However, he is "fairly optimistic" as at least five new models are coming next year.
Mr William Choo, commercial director for Lexus at Borneo Motors, said buyers might switch to smaller, cheaper models next year. He also pointed out that fewer COEs will be available.
Meanwhile, BMW is rushing to get the new 7-series here by January, just three months after its unveiling at the Paris Motor Show. Usually, right-hand-drive versions of new European cars take up to a year after their international launch to reach here.
"This is an important market for us," said the BMW Asia spokesman. "We can no longer do what we used to do."
This article was first published in The Straits Times on Oct 7, 2008.
