Bayerische Motoren Werke AG (BMW) agreed to pay 5.1 billion yuan ($820 million) to its distributors in China to help cover losses after retailers stopped ordering cars from the manufacturer.
BMW implemented this policy for 2 factors: a decline in shares and lower vehicle quotas. BMW shares fell as much as 2.8%, and there are an increasing number of factories in China imposing purchasing restrictions on vehicles. As a result both Toyota Motor Corp. and other dealers are going to drop out of the distribution network.
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