BMW Car Finance - Recession ProofGerman automotive giant BMW has announced plans to invest $50 million into its new enterprising project BMW Financial Services based in India.
German automotive giant BMW has announced plans to invest $50 million into its new enterprising project BMW Financial Services based in India. One of the company’s top executives stated that they were looking for a launch date in the middle of the year. It seems car finance is very much at the top of BMWs’ agenda in India.
The new outfit would work within India and would look for a license to operate as a non-banking finance company. This venture would allow customers to choose solutions to their motoring finance problems. Car credit will be an available option once BMW begin their plans and as a result it will allow people who couldn’t initially buy a car, the opportunity to buy a BMW. With India expanding daily with regards to the luxury car market, BMW are keen to offer services that will entice more customers to choose the Bavarian brand over rivals such as Audi and Mercedes Benz.
BMW India president Peter Kronschnabl stated that the growth for BMW within the India territories will present a “double digit” increase during this current calendar year.
With BMW already holding a 41 percent market share in the luxury car market within India, there stranglehold upon the competition will seemingly become ever tighter with the release of the new limited edition Gran Turismo. While the shape of the new car has come under some scrutiny from motoring journalists and fans of BMW alike, the Gran Turismo offers saloon like space, the ability of a sports activity vehicle and the ease of use and calming nature of a true grand tourer. There will only be 100 limited edition Gran Turismo models available and BMW are sure that their “elite” customers will happily pay for the further exclusivity.
While the global recession is still biting the majority of people in the back, including the motor industry, BMW are seemingly flourishing under the conditions with this announcement. With excellent sales figures projected, BMW are increasing their dealer network from the current 12, to a rather more acceptable 22.
Posted by Edwin Miles on