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Daimler, BMW target wealthy customers with new cars, Reuters says

BMW (BAMXY) revealed a high-end concept sedan in Beijing to test client demand for a vehicle that would cost more than company's current flagship 7 series limousine, according to Reuters, citing comments from Ian Robertson, BMW Group's board member responsible for sales and marketing. BMW's effort comes as its competitor, Daimler (DDAIF), also gauging demand for reviving its disbanded luxury Maybach brand.