The BMW Group has increased its investment in BMW Financial Services India to 5.3 billion Indian Rupees (US $ 106 million) in 2012 from 2.3 billion Indian Rupees (US $ 50 million) in 2010.
Dan DeChristopher, Managing Director and Chief Executive Officer, BMW Financial Services India said, “In less than two years, BMW Financial Services India has successfully established itself as the leading provider of customized financing solutions, individually tailored leasing plans and unrivalled services. BMW Financial Services India has made significant contribution to BMW Group’s success in India. This investment will help us enhance our product and service offering in India to further augment BMW India’s market leadership.”
In 2012, BMW Financial Services India will employ more than 80 people at its headquarters in Gurgaon.
Dr. Andreas Schaaf, President, BMW India said, “BMW India continues to be the leader in the Indian luxury car segment. An integral part of our winning story in India is BMW Financial Services, which provides complete peace of mind to BMW customers with financially attractive offers and professional services to make the transition from showroom to the highway, pleasurable and memorable. The investment clearly reinforces BMW Group’s commitment to India.”
In 2012, BMW Financial Services India has also launched an in-house Customer Interaction Centre to assist existing and prospective BMW customers. The one of its kind Customer Interaction Centre offers a complete BMW experience and has professionally trained executives, who provide expert information regarding financing and leasing, insurance, asset management, dealer financing and company car pools.
BMW Group launched BMW Financial Services India on October 5, 2010 as a 100pc subsidiary headquartered in Gurgaon (National Capital Region). On June 16, 2010, BMW Financial Services received a license to operate as a Non-Banking Finance Company (NBFC) from the Reserve Bank of India.
BMW Financial Services operates with three business lines: Retail Finance, Commercial Finance and Insurance Solutions (through cooperation partners). The services offered through BMW Financial Services in India are significantly valuable to the premium clientele who require exclusive and flexible financial solutions. Service excellence is the primary focus of operations across all business lines.
BMW Financial Services offers solutions for retail automobile financing for BMW customers and multi make customers, financing for fleet owners and commercial financing for BMW dealerships and multi make dealerships. Commercial finance solutions offered to BMW India dealerships further strengthen operations in the country and reinforce the BMW brand. BMW Financial Services India also offers BMW Lease for individuals and corporate customers. BMW Financial Services provides insurance solutions to its customers through its cooperation partner in India.
BMW Financial Services was established in 1991 and presently has subsidiaries in 31 countries besides India and is active in more than 60 countries. BMW Group Financial Services is currently serving 3 million customers with assets of Euro 70 billion globally.
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