BMW is believed to have slashed the 2014 sales target for its 7-Series luxury sedans in China by up to 40 percent, as the company prepares to unveil the next-generation of the cars in 2015, the National Business Daily reported Thursday. It cited sources from the German automaker as saying that imports of those sedans will be limited in the future, with only models costing over 700,000 yuan (US$115,289) and other minority models to be kept on the import list. BMW will significantly increase the import quantity of its smaller-size 1-Series sedans in 2014, with the line tipped to be manufactured in China in the near future. BMW could increase the domestic production ratio to 70 percent next year from this year’s level of 60 percent, a source was quoted as saying.
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