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BMW to Pay $820 Million to China Car Dealers, Group Says

2015-01-05 07:20:58| Auto Dealers - Topix.net

Bayerische Motoren Werke AG agreed to give 5.1 billion yuan to its distributors in China to help cover their losses after the retailers threatened to stop ordering cars from the manufacturer, a dealer's group said. The subsidies will be paid by the end of February and represent the largest payout by an automaker in China, said Song Tao, a deputy secretary general of the China Automobile Dealers Association, which represented the BMW distributors in the negotiations.

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