Kastner named BMW China chief, replacing Engel

BMW AG named the head of its Chinese joint venture to lead the China region, replacing Karsten Engel, who will return to Germany.Olaf Kastner will take over in his new role beginning Dec. 1 and Anton Heiss will assume his position as CEO of BMW Brilliance Automotive, according to a company statement.As chief of BMW China, Engel reduced prices on some models and cut production to prevent a buildup of unsold cars and light trucks.The world's largest luxury automaker also is adjusting to a "new normal" of slower sales growth in China, Engel said at the Shanghai auto show in April.In recent months, BMW has lost sales ground in China to rival Mercedes-Benz. Audi is the top-selling luxury brand in China, followed by BMW and Mercedes.BMW said in July it will increase online marketing in China and emphasize its technology to attract younger buyers.The German automaker expects challenges from the slowdown in China's new-vehicle market.BMW and other automakers have extended financial support to dealers, who have complained of overly ambitious sales targets amid a slowing economy.

Kastner named BMW China chief, replacing Engel

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