BMW Dangles 19% Discounts as China’s Luxury Market Cools: Cars

Source Bloomberg

China is turning into a buyer’s market for luxury cars as dealers for Bayerische Motoren Werke AG (BMW), Daimler AG (DAI) and Volkswagen AG (VOW)’s Audi offer discounts to maintain sales as demand cools.
In Beijing, BMW dealerships are giving markdowns of as much as 19 percent on a 3-series car, while some Mercedes dealers are selling the C-Class Elegance model at 20 percent less than the suggested retail price, according to cheshi.com, a pricing guide tracking more than 3,000 dealers in the country.