China's Brilliance Auto halts Europe exports -execs
SHANGHAI, April 29
SHANGHAI, April 29 (Reuters) - Brilliance Auto, BMW's (BMWG.DE) partner in China, has halted its car exports to Europe after its in-house designed BS4 and BS6 met with a cool reception and there is no timetable for resumption, senior company executives said on Thursday.
The executives, who spoke on condition of anonymity, said the company would look to start sales again in Europe with products that could meet new EU emissions standards sometime in the future.
Brilliance had in 2006 secured a deal to ship 158,000 sedans to Europe over a five-year period, the largest auto order ever for a Chinese manufacturer from a developed market.
But sales volume of its BS4 and BS6 sedans only amounted to a few thousand after the models scored poorly in crash tests.
Brilliance executives also blamed the poor reception for the sedans in part on the difficulty of keeping up with changing European regulations.
"We have stopped exports to Europe. For now, we have no timetable for resuming the business," a senior Brilliance executive with direct knowledge of the matter told Reuters. He declined to be named because of the sensitivity of the matter.
Brilliance is the parent of Brilliance China Automotive Holdings (1114.HK). (Reporting by Fang Yan and Edmund Klamann; Editing by Jacqueline Wong)
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