BMW在中國市場的銷售量持續下滑，2025年上半年同比下降達15%，僅售出約31萬輛新車，成為其全球主要市場中跌幅最大的地區。這趨勢背後反映出多重結構性問題與外部環境的變化，正在對這家德國豪華車製造商構成深遠挑戰。

首先，中國本土汽車品牌的迅速崛起對BMW等傳統外資品牌造成巨大壓力。尤其是在新能源車領域，比亞迪、蔚來、小鵬、理想等國產品牌不僅在價格上更具競爭力，還積極導入智慧座艙、自動駕駛與OTA更新等前沿技術，迅速吸引年輕消費者的注意力。相對而言，BMW在華推出的電動車型如iX3、i4等雖然在品質與性能上維持水準，但在價格、配置與本地化創新程度上與本土品牌仍有落差，導致市場份額不斷被侵蝕。

其次，中國消費者對豪華品牌的價值認知也在轉變。過去，擁有德系豪華品牌被視為身份與品味的象徵，但在今日，越來越多消費者更看重科技感、使用體驗與性價比。BMW傳統的「駕駛樂趣」品牌定位，在智慧化趨勢下逐漸顯得保守與過時。當市場從「看車標」轉向「看功能」與「看體驗」，BMW原有的品牌優勢開始失靈。

第三，中國經濟復甦乏力與消費信心低迷亦是影響銷售的關鍵因素。2024年以來，中國多地房地產與股市低迷，使中高收入階層資產縮水，消費意願下降。汽車作為大宗耐用品，購買決策更為謹慎，而豪華車又是其中最容易被延後或取消的類別。與此同時，BMW在中國市場的定價策略仍偏高，即使經常進行促銷或降價，也無法有效刺激大規模換車需求。

再者，BMW在中國的產能與經銷網也面臨調整壓力。由於先前對中國市場的高度預期，BMW在瀋陽與其他地區投資擴廠，產能大幅擴張，但如今產銷失衡導致庫存壓力上升，經銷商面臨庫存積壓與盈利困難，導致終端銷售積極性降低。一些經銷商甚至反映缺乏有競爭力的新產品與行銷資源，難以應對激烈的本地競爭。

與此形成鮮明對比的是，BMW在歐洲與北美市場表現相對穩定。2025年上半年，歐洲仍為其最大市場，累計銷量達497,788輛，年增8.2%；北美市場也成長3.4%，達237,167輛。這表明BMW在成熟市場仍能維持品牌忠誠度與消費信任，但在中國這個快速變化且競爭白熱化的市場，其轉型步伐顯然尚未跟上本土競爭對手的速度。

綜合而言，BMW在中國的銷售下滑不僅是短期經濟波動的結果，更是全球豪華車品牌在中國市場遭遇的結構性挑戰縮影。如果BMW未能在本地化創新、電動化轉型、品牌重塑與價格策略上迅速調整，其在中國的市佔恐將進一步被侵蝕，而中國這個曾是其增長主力的市場，也可能逐漸失去對其全球業績的支撐力。

BMW's sales in the Chinese market have continued to decline, with a year-on-year drop of 15% in the first half of 2025, totaling only around 310,000 vehicles sold. This makes China the worst-performing major market for the German luxury automaker, highlighting a convergence of structural issues and external pressures that are posing serious challenges to BMW's long-term position in the region.

One major factor behind the decline is the rapid rise of domestic Chinese car brands. In the new energy vehicle (NEV) sector in particular, companies like BYD, NIO, XPeng, and Li Auto have proven highly competitive in both pricing and technology. Their adoption of cutting-edge innovations such as smart cockpits, autonomous driving, and OTA updates has resonated especially well with younger consumers. While BMW's China-specific EV models like the iX3 and i4 maintain high standards in quality and performance, they often lag behind in terms of pricing, configuration, and localization. As a result, BMW has been steadily losing market share to its Chinese rivals.

At the same time, Chinese consumer perceptions of luxury brands are also shifting. Whereas German premium marques were once symbols of status and taste, today’s buyers place more emphasis on technological sophistication, user experience, and overall value. BMW's traditional branding around “the joy of driving” is increasingly viewed as conservative or outdated in an era where digital features and connectivity take precedence. As the market moves from valuing the badge on the hood to prioritizing what the car offers inside, BMW’s legacy advantages are being eroded.

Another major drag on sales is the broader economic environment. Since 2024, sluggish recovery in China’s property market and weak stock market performance have dented consumer wealth and spending confidence, especially among the middle and upper classes. Cars are big-ticket purchases, and luxury vehicles are among the first to be postponed or canceled during financial uncertainty. Although BMW has attempted to spur demand through discounts and promotions, its pricing strategy in China is still considered relatively high, limiting its effectiveness in reigniting large-scale purchasing interest.

Moreover, BMW's production and dealership operations in China are under increasing strain. In previous years, the company expanded manufacturing capacity significantly in locations such as Shenyang in anticipation of long-term growth. But with supply now outpacing demand, inventory buildup has become a concern. Many dealerships are facing overstock issues and shrinking profit margins, weakening their motivation to push sales. Some dealers have even reported a lack of compelling new products and insufficient marketing support, making it difficult to compete against aggressive domestic brands.

In stark contrast, BMW’s performance in Europe and North America has remained stable. In the first half of 2025, Europe continued to be the company’s largest market with 497,788 vehicles sold, representing an 8.2% year-on-year increase. In North America, sales rose by 3.4% to 237,167 units. These figures suggest that BMW is still able to maintain brand loyalty and customer trust in mature markets. However, in China—where rapid change and intense competition are the norm—BMW’s transformation efforts are clearly lagging behind its domestic competitors.

In summary, BMW’s declining sales in China are not merely a reflection of short-term economic turbulence, but rather a symptom of deeper structural challenges facing global luxury automakers in the world’s largest car market. Without swift adjustments in localization, electrification strategy, brand positioning, and pricing models, BMW risks losing even more ground. The Chinese market, once a key growth engine for BMW’s global performance, may gradually lose its role as a revenue pillar if these issues remain unaddressed.