Auto Finance Wing From BMW

By By: Vicky.in

Published: Friday, October 8, 2010, 12:41 [IST]

The global car maker BMW is all set to please the customers in India by extending financial assistance through its global arm, BMW Financial Services. This, the company feels, may increase the sale volume. The wing will be under the aegis of BMW as a subsidiary with a license to function as a banking sector in India, as ratified by Reserve Bank of India. The Services will function from Gurgaon with an investment of million. The assistance will be available for purchasing BMW vehicles and other brands as well and will be processed through its dealers across the country, said the new MD&CEO of BMW Financial Services.

BMW is making this effort to counter the stint taken by Mercedes with regard to luxury car sale in India. Daimler AG is also set to start similar financial wing under Daimler Financial Services next year. The company is functioning in 31 countries with 3 million customers; for the Indian operations there will be retail, finance and commercial finance besides auto insurance schemes.

Article Published On: Friday, October 8, 2010, 12:36 [IST]

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