Faith in the luxury car market has prompted Olympic Motor Pte Ltd to open a BMW showroom
in Phnom Penh.
The company has already sold 10 cars in as many months and anticipates selling 50
luxury vehicles in its first year.
The firm, a joint venture between local businessman Bun Hy and Singaporean Sim Ping
Sai will serve as the exclusive sales and service center for BMWs in Cambodia.
Sim and his partners have invested over $1 million in the development of the Olympic
Center, an office complex with the BMW showroom on the ground floor.
Hermann Kienzle, BMW's Singapore-based Asia sales manager, said at the opening ceremony
on Dec. 10 that he expected the Cambodian market to be a slow but "controlled".
"We won't sell BMWs here in tremendous numbers," said Kienzle. "But
sales should be reasonable."
Pointing to a potential parallel with Taiwan, Kienzle said 20 years ago when BMW
opened an office there, it sold just six cars in the first year. It now sells over
Olympic Motor has set up a complete service center to cater to customers' needs.
A technician from the home office in Germany will visit Phnom Penh every two months
to assist training mechanics.
BMW models in the showroom carried sticker prices which, given Cambodia's low import
duties, are probably the lowest in Southeast Asia.
A BMW 3 Series 320iA sells for $39,800, about one-third the price in Singapore or
BMW Asia sales manager Hermann Kienzle presents Olympic Motor's Sim Ping Sai with
an inaugural plaque at the BMW showroom opening ceremony.