The Chinese-built model will supply the local market and other Asian countries, while some of the German-produced X1s will be exported to the U.S. later this year.
A trade group says lenders stopped 1,687 attempted frauds at the application stage in the year’s first quarter, saving the industry more than £20 million.
The 3-door, 4-seat vehicle, to be unveiled at the Paris auto show in September, is meant to appeal to image-conscious buyers with its use of premium materials and design cues often found in the luxury segment.
The Association of European Businesses anticipates slower growth in second-half 2012, but is sticking with its original forecast of 2.8 million full-year sales.
Analyst Kavan Mukhtyar says the effects of stricter lending guidelines by the country’s central bank will be offset by stepped-up marketing campaigns including higher discounts.