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BMW launches 1 series compact car in China

BMW the world’s largest maker of premium cars, rolled out its BMW 1 series in the fast-growing China market on Monday to help boost sales.

The compact models are priced between 273,000 yuan and 445,000 yuan ($39,340-64,120), the German car maker said in a statement. BMW competes with Volkswagen’s Audi among others in China and currently makes 3 series and 5 series cars in a facility in the northeastern city of Shenyang. Its car sales in mainland China jumped 43.2% to 14,574 units in the first quarter of this year, after growing 42% in 2007. (Reuters)