BMW to Launch Indian Captive
As it ramps up plans to offer used cars in India, BMW is investing $50 million to set up a financial services subsidiary in the country.
BMW Financial Services India, as the unit will be called, should be up and running by midyear. The non-banking financial company will offer wholesale and retail car financing, as well as insurance products.
Meanwhile, BMW India is prepping to sell certified pre-owned cars. Vehicles may qualify for the BMW Premium Selection Programme, as the program is called, if they are less than five years old, pass a 72-point inspection, and have an approved and documented history, among other things.
BMW India was the country’s leading luxury car brand last year. It sold 3,619 units to capture 40% of the market.
BMW Financial Services India, as the unit will be called, should be up and running by midyear. The non-banking financial company will offer wholesale and retail car financing, as well as insurance products.
Meanwhile, BMW India is prepping to sell certified pre-owned cars. Vehicles may qualify for the BMW Premium Selection Programme, as the program is called, if they are less than five years old, pass a 72-point inspection, and have an approved and documented history, among other things.
BMW India was the country’s leading luxury car brand last year. It sold 3,619 units to capture 40% of the market.
Tags: bmw, captive, india, pre-owned
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